Common use of IN FEE Clause in Contracts

IN FEE. A lock-in fee of $ ( % of the Loan Amount) is required to lock-in the terms of this Agreement. The lock-in fee is is not included in the Origination Fee/Discount Points stated below. This lock in fee must be paid by [INSTRUCTION: Such fee cannot be taken prior to the time that the lock-in agreement is binding.] If you provide the lender with incomplete or incorrect credit information, you may forfeit some or all of your lock-in fee.