LOI FEE DISCLOSURE
PhoneOps LOI Fee Disclosure
At PhoneOps Funding LLC, we believe transparency builds trust—and trust builds business. This page outlines everything you need to know about our Letter of Intent (LOI) fee, why it matters, and how PhoneOps stands alone in the U.S. lending industry by turning your commitment into real value.
Why Lenders Charge an LOI Fee
Lenders and investors charge a Letter of Intent (LOI) fee to ensure that borrowers are serious and committed to the funding process. This fee covers the lender’s internal underwriting, deal structuring, and administrative costs incurred before third-party reports are even ordered. Because these resources are allocated immediately upon issuance of the LOI, the fee is non-refundable. It protects the lender’s time and ensures that only qualified applicants proceed.
LOI Fee vs. Third-Party Fees
It’s important to distinguish the LOI fee from third-party costs. The LOI fee is paid directly to the lender to initiate internal due diligence. In contrast, third-party fees—such as appraisals, environmental reports, engineering studies, and legal reviews—are paid to independent service providers and are billed separately. These are not included in the LOI fee and are typically required later in the underwriting process.
Why PhoneOps Funding LLC Is Different
PhoneOps Funding LLC is the only lender in the United States that credits 100% of the LOI fee toward your closing costs at settlement. While other lenders treat the LOI fee as a non-refundable expense, PhoneOps reinvests that fee back into your transaction. This means your upfront commitment becomes a direct credit at closing—a benefit no other lender offers. It’s just one of the many ways we put our clients first and build long-term relationships based on trust, transparency, and value.
Ready to Proceed?
If you’re ready to move forward with your funding process, please click the button below to securely submit your LOI fee. Once payment is received, our underwriting team will begin working on your file immediately.
LOI Fee – Partial Remittance
For most Retail Program loans, the borrower is required to remit one‑third of the Letter of Intent (LOI) fee upon completion of the online application. This initial payment serves as confirmation of the borrower’s commitment to proceed and ensures that our Underwriting Department can begin a full and comprehensive review of the file without interruption.
The initial payment of $5,997 is due immediately after the application is submitted. The remaining balance of $9,003 will be due upon issuance and acceptance of the Conditional Quote/Approval. All fees are fully disclosed in advance and are required to move the loan into the next stage of underwriting and approval.
