Do these hard money fees look correct?

[Clay Sexauer]

Hello,

I'm currently in the middle of obtaining an 18 month hard money loan. I was wondering if the additional fees associated with obtaining the loan are industry standard.

Points: 4

Interest Rate: 12%

Appraisal Fee: $450-$500

Budget Review Fee:

CMA/BPO: $150-200

Property Inspection Report or Site Inspection: $200

Processing: $750

Underwriting $500-$995

Loan Set up: $250

Construction Control Fee: 1% of escrowed amount and $175 per draw

Doc Prep: $750-$1500

If I'm doing my math right, I'm looking at $6,500 in loan origination, $5,500 (more or less in additional fees), plus escrowed taxes and insurance. 

Please let me know your thoughts.

Best!

Clay

[Jay Hinrichs]

sky high in junk fee's... either pay junk fee's or points.. NOT BOTH