There are no fees to apply for the loan. However, some fees are added to your disbursement amount and during the conversion of your original loan to U.S. dollars, if it is not already in U.S. dollars.
- Origination Fee: A 5% origination fee is added to the disbursed refinance loan amount with MPOWER.
- Foreign Currency Exchange Rate: The converted US dollar loan amount/your disbursement amount includes the foreign exchange rate where MPOWER ensures the applicants get best exchange rate, without any facilitation charges.
- Premium Charge for Conversion Service: This is an additional charge for currency conversion and fund transfer services by your home country lender (if any).
These are standard fees for international loan transactions and may vary depending on the bank.