Mortgage fees are costs associated with obtaining a mortgage loan. These fees can include application fees, appraisal fees, and origination fees, which cover the lender's expenses in processing the loan. Understanding these fees is essential for borrowers, as they can significantly impact the overall cost of purchasing a home. In addition to the initial fees, there may be ongoing costs such as private mortgage insurance (PMI) if the down payment is less than 20%. It's important for potential homeowners to budget for these expenses to ensure they can afford their mortgage over time.