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Updated 6 months ago on . Most recent reply

User Stats

340
Posts
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James McGovern
  • Flipper/Rehabber
  • Bloomfield CT
71
Votes |
340
Posts

Why are the number of fees for a loan growing?

James McGovern
  • Flipper/Rehabber
  • Bloomfield CT
Posted

Looking for a loan and am curious if all lenders have resorted to creating a laundry list of fees. Some of what I am seeing are:

- Legal Fees

- Underwriting Fees

- Corelogix and other data fees

What's next - Fees for if you are an American living in America? First Born Fees, The Fee Fee, etc.

All of the fees are increasing the amount of money a flipper has to bring to the closing table and aren't helpful.

Most Popular Reply

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3,912
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Erik Estrada
#2 Private Lending & Conventional Mortgage Advice Contributor
  • Lender
1,206
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3,912
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Erik Estrada
#2 Private Lending & Conventional Mortgage Advice Contributor
  • Lender
Replied
Quote from @James McGovern:

Would love to find a list of 65% LTV max mom and pop hard money lender in my area. Got suggestions?


 No one is going to hand you a list. You will need to network in the area, go to events, and meet ups. Or just work with a mortgage broker in the area 

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