SECTION 355:10-5-4. Loan application fee

Latest version.

A fee equal to 1/2 of 1% of the requested loan amount shall be payable at the time the application is submitted. Should the loan application be denied by the Authority, this fee shall be refunded to the applicant less $500.00 or the amount of out-of-pocket expenses incurred by the Authority in processing the loan application, whichever is greater.

                    
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