What are the costs associated with obtaining a mortgage (e.g. closing costs, origination fees)?

In India, the costs associated with obtaining a mortgage may include the following:

1. Processing fees: This is a onetime fee charged by the lender for processing the loan application.

2. Appraisal fees: This fee is charged by the lender to determine the value of the property being mortgaged.

3. Legal fees: These fees are charged by the lender for the legal work involved in creating the mortgage.

4. Stamp duty: This is a tax charged by the government on the mortgage agreement.

5. Registration charges: These charges are levied by the government for registering the mortgage agreement.

6. Prepayment charges: These charges may be levied by the lender if the borrower decides to pay off the loan before the end of the loan tenure.

7. Insurance fees: The borrower may be required to take out insurance on the property being mortgaged, which will result in additional fees.

8. Miscellaneous charges: Other fees may be levied by the lender, such as documentation charges, administrative fees, and so on.