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Updated 6 months ago on . Most recent reply

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Dawit Wo
  • Member since Jan 6, 2022
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Dawit Wo
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Dawit Wo
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Mortgage Brokers & Lenders

DSCR - Loan Terms

Dawit Wo
Posted

I applied in May and appraisal was completed in less than a week. Yet, I received terms 2 weeks ago, and CTC this week.

Rate: 8.125%

Processing Fee: $995

Closing Fee: $1,360

Origination Fee: 2.650% 

Admin Processing Fee: $995

Is this bad considering it's a small cash out: ~60k? Credit was 720 or 700.

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Brandon Croucier
  • Lender
  • from Newport Beach, CA
  • Member since Feb 16, 2024
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Brandon Croucier
  • Lender
  • from Newport Beach, CA
  • Member since Feb 16, 2024
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Brandon Croucier
  • Lender
  • Newport Beach, CA
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Brandon Croucier
  • Lender
  • Newport Beach, CA
Replied
Quote from @Dawit Wo:
Quote from @Brandon Croucier:

What is the loan amount?


 60k

Thats a great deal then.
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