Are there origination fees on Harbor Lenders loans?
Harbor Lenders is a loan marketplace, not a direct lender. Fee structures vary by the individual lender you are matched with. Review the full terms of any offer before accepting.
Glossary
Origination Fee
A one-time fee charged by some lenders to process a loan. It is typically deducted from the loan proceeds or added to the loan balance.
In depth
Understanding Origination Fee
Origination fees typically range from 1% to 8% of the loan amount. A $5,000 loan with a 3% origination fee, for example, results in $4,850 disbursed to you. Because the fee affects how much you actually receive, it is factored into the APR. Not all lenders charge origination fees — compare total cost (APR) rather than interest rate alone when evaluating offers.
FAQs
Common questions
Is an origination fee included in the APR?
Yes. Lenders are required to include origination fees in the APR calculation, which is why APR is a better comparison tool than the nominal interest rate.
Related terms
See also
Annual Percentage Rate (APR)
The total yearly cost of borrowing, expressed as a percentage. APR includes the interest rate plus any lender fees, making it a more complete comparison tool than interest rate alone.
Read more →Loan Principal
The original amount borrowed, not including interest or fees. Monthly payments reduce the principal balance over the life of the loan.
Read more →Personal Loan
An unsecured installment loan that can be used for almost any purpose. Repaid in fixed monthly payments over a set term.
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