We do not charge origination, prepayment, early payment, or extra payment fees. Because we process all applications and loan information online, we cut down costs significantly and pass those savings on at lower rates for our clients. The primary way we generate revenue is from the interest received on our loans. However, if any payment made towards your loan is returned, we reserve the right to charge up to $8 to pay the charges assessed by any institution for processing a returned payment.
For all loan documents executed in Florida, a stamp tax of 0.35% per $100 or portion thereof (for example, $21 on a loan of $6,000) is levied by the state government. The transaction will be labeled “FL Documentary Stamp Tax.” For both student loan refinance and private student loans, Earnest will add the stamp tax to the principal loan amount, and the amount of the stamp tax will be provided in the Final Disclosure. All of this tax goes directly to the Florida Department of Revenue. Certificate of Registration No. 78-8016373916-1.