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Updated almost 9 years ago on . Most recent reply
Costs of conventional mortgage
Hello,
I am currently purchasing a SFR in the state of connecticut and as I was looking over the loan, some of the fees looked a little high.
The loan will be a second mortgage for me and owner occupant. The lender will also be including roughly 75k of rehab in a total of 210k loan amount with a 4.9% rate.
Origination Charge is 2023
Appraisal is 550
Credit Report 65
Flood Certification 16
Inspection Fees (draws) total 600
Title Search 200
Lenders Title Insurance 900
Settlement Fee 850
Title Update Fee 225
Any insight as to what is out of line if anything would be greatly appreciated, I am new to these loan amounts.
Thanks!
Most Popular Reply

@Rick SantasiereThere are two kinds of rehab up to 35K which is a streamlined rehab loan and then anything above 35k would be considered a FULL rehab they can loan up 500K in repairs depending on the lender and loan product