Many commercial mortgage lenders require an application fee or good-faith deposit, which is typically used by the lender to cover underwriting. Other expenses such as a third party appraisal or business valuation and inspection of the property are paid either to the lender or the third party before the loan is completed. Commercial mortgages may also have origination or underwriting fees (paid at close as a reduction in loan proceeds) and/or exit fees (paid when the loan is repaid). VI does not charge due diligence fees but requires a business valuation and inspection performed by a third company.