Underwriting Fee - Underwriting is the process of determining the risks involved in a particular loan and establishing suitable terms and conditions for the loan. It includes a review of the potential borrower's credit history and a judgment of the quality of the property. The person who does this is called an underwriter. The underwriting fee covers the cost of evaluating your entire loan package, including your credit report and appraisal, to determine whether the lender can approve your loan request. Typically $195 - $795.