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Updated 2 months ago, 10/11/2024
DSCR Loan Fees - More than expected... is this normal?
Hi All. First post. First investment property.
Just getting my financial house in order and talking to some lenders.
Most of them are quoting me:
An origination fee - $2500
A processing fee - $1000
An Underwriting fee - $1000
Some misc. fee ("Admin") - $500
The numbers change, but ultimately the bottom line is just for the loan, it's $4700-$5500 in fees.
Is this normal for this type of loan? I assume so since that's what everyone is quoting me.
I appreciate the help.