Do lenders require a fee to get into a conventional loan for investment property?

[Shawn Trousdale]

My wife and I are looking to get into an investment propoerty in Texas.  We are using personal contacts to gain knowledge and get conected with professionals.  We have been prequalified for a conventional mortgage at 20% down.  They are saying there is another fee/cost to get the financing collected by the lender in addition to the down and closing costs of up to 4% of the borrowed amount.

Is this fee typical for a conventional loan for an investment property?