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Updated over 9 years ago,

User Stats

89
Posts
21
Votes
Jason Hatfield
  • Investor
  • Elkton, MD
21
Votes |
89
Posts

Upfront Fees for a Hard Money Lender

Jason Hatfield
  • Investor
  • Elkton, MD
Posted

Hello all!

I wanted to ask if the following fees seem in line for a Hard Money Loan:  

$700 at time of application submission for SOW Review, Renovation Cost Validation and an Appraisal.

$175 Draw Schedule Review

$235 Document Processing

$350 Lenders Attorney

I've only used HM once before on a flip I did in 2005 in Massachusetts.  I now live near Baltimore and I'm not sure if this is common for this area.

Thanks!

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