Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Commercial Real Estate Investing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 6 years ago,

User Stats

17
Posts
7
Votes
Jon Marois
  • Red deer, Alberta
7
Votes |
17
Posts

What are typical brokerage fees for financing?

Jon Marois
  • Red deer, Alberta
Posted
I am working on a deal trying to get financial for a commercial property and the the lender has listed the following costs. Email form lender; Loan amount – 75% LTV max = $231,750 financing Interest rate – Prime + 1.50% Amortization of 20 years Payment would be $1,512/Month. Borrower would require the following amount of cash to close $309,000 Purchase Price -$231,750 loan proceeds $77,250 Down payment required Plus: $1,160 Lender Fees (0.5% of the loan amount) $6,900 Brokerage Fees (3% of the loan amount) $3,500 Legal Fees (Lender and Borrower side total Estimated) $2,500 appraisal Costs – if not completed and if one is required $3,500 Phase 1 Environmental Cost – if not completed and if one is required $17,560 – Estimated costs Total capital required approximately = $94,810 My question is what are typical costs for Lender fees? And Brokerage Fees? This is through a broker who I am trying. My bank is also running the numbers to see what they can do. 6900 just seemed like a lot . Totally will to listen to any advice. Very new to this whole thing! Thanks

Loading replies...