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Updated 10 months ago,
Seeking fee advice on freddie mac sbl program
Hello,
I am looking at a 32 unit apartment complex priced at $2.5M. I am curious if the fees I am being presented are in line with market norms:
lender app fee: $10,000
Origination fee 1% ($20,000)
Lender costs: shows a fixed amount at $10,000
processing fee $895
registration fee $10,000
Title and escrow fees: $4,000 est.
6.5% rate fixed at 10 years
Prepayment Penalty: Yield Maintenance months 1-114 (1% minimum)
Third Party Reports
Apppraisal Required
Engineering Required
Environmental N/A
Seismic Report N/A
Market Study N/A
Funded Escrows
Real Estate Taxes Required
Prop/Liability Insurance Required
Special Assessments N/A
Ground Lease N/A
Replacement Reserves N/A
Required Repairs TBD
Debt Service Reserve N/A
Would love to hear your thoughts on this as well as what you think is appropriate fees for the freddie mac sbl program. This is my first time going outside of a community bank for larger multifamily.