What to expect in HML costs

[Cheri H.]

Hi all!  I am exploring hard money options in RVA and would like to know what to expect regarding costs?  i.e. origination costs, appraisal requirements, interest, commitment fees, processing fees, etc. 

I have a decent (760+) credit score, a decent amount of cash reserves - I know this mattered to the lenders I have spoken with.  The figures I received were:

Loan Amount $80,800k 

80% LTV

Interest 10.95% 

Interest-only payment: $737.30

Origination: $2,750

Processing Fee: $785

Other Required fees through lender:

Appraisal Report: $405

Building Inspection Report: $290

Commitment Fee (returned at close): $285

Any insight into the reasonableness of these costs would be greatly appreciated!