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Updated almost 8 years ago on . Most recent reply

User Stats

10
Posts
1
Votes
Edwin Rodriguez
  • Hurricane, WV
1
Votes |
10
Posts

Renovation loan fees

Edwin Rodriguez
  • Hurricane, WV
Posted

Hi, I am working on getting the best finance deal for my first rental property.  I came across a renovation loan but the fees just seem a little on the high side.  I realize that this type of loan may be a little pricey but how much is too much.  The property I am looking at costs 50k and will need 15k in rehab.  here are the fees broken down for the 65k loan.  Any feedback would be appreciated.  Thanks

appraisal 450, closing fee 195, credit report 28, doc prep fee 125, flood certification fee 9.50, lenders title insurance 156, processing fee 395, recording fees 60, renovation fees 600, settlement fee 700, tax service 78, underwriting fee 395, wire transfer 35

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