Closing Costs on a Private Loan vs. Conventional Mortgage

[Dan Marasco]

I have purchased all of my investment properties with conventional mortgages, but am considering taking the plunge into the 'dark side' by going with a private/commercial loan on my next project.  It's a 5-year fixed with 25-year amortization at 4.75% and only 20% down required.  Conventional mortgage requires 30% down on multi-families.  Should I expect closing costs for a private/commercial loan to be less, more or about the same as those of a conventional mortgage?  Thanks.