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Updated about 4 years ago on . Most recent reply

Danette DeRose's profile image
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Danette DeRose
  • Member since Jan 19, 2019
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Danette DeRose's profile image
Danette DeRose's profile image
Danette DeRose
  • Member since Jan 19, 2019
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Danette DeRose
2
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12
Posts
Buying & Selling Real Estate

do hard money lenders usally charge a upfront processing fee ?

Danette DeRose
Posted

was wondering do hard money lenders usally charge a upfront processing fee? just dont wanna get scammed

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Shaun Weekes's profile image
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Shaun Weekes
  • Loan Officer / Processor / Life & Health Agent
  • from Rancho Cucamonga, CA
  • Member since Jun 8, 2014
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Shaun Weekes's profile image
Shaun Weekes's profile image
Shaun Weekes
  • Loan Officer / Processor / Life & Health Agent
  • from Rancho Cucamonga, CA
  • Member since Jun 8, 2014
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Shaun Weekes
  • Loan Officer / Processor / Life & Health Agent
  • Rancho Cucamonga, CA
757
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Shaun Weekes
  • Loan Officer / Processor / Life & Health Agent
  • Rancho Cucamonga, CA
Replied
Originally posted by @Danette DeRose:

was wondering do hard money lenders usally charge a upfront processing fee? just dont wanna get scammed

If anyone is asking you for an upfront processing fee, there's a good chance it's a scam. Lenders are only allowed to ask for a credit report fee and appraisal fee upfront.

I don't know any HML's that ask for an upfront fee.

Run away!!!

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