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Updated about 5 years ago,

Clark Kirkpatrick's profile image
Clark Kirkpatrick's profile image
Clark Kirkpatrick
  • Contractor
  • from Pottstown, PA
  • Member since Mar 27, 2018
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214
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160
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Clark Kirkpatrick's profile image
Clark Kirkpatrick's profile image
Clark Kirkpatrick
  • Contractor
  • from Pottstown, PA
  • Member since Mar 27, 2018
Connect
Clark Kirkpatrick
  • Contractor
  • Pottstown, PA
160
Votes |
214
Posts
Private Lending & Conventional Mortgage Advice

"Investment Property Fee" in closing costs??

Clark Kirkpatrick
  • Contractor
  • Pottstown, PA
Posted

I just got a quote for a loan on a triplex. Purchase price is $140k, and the quote lays out each line item that I'll be charged for.

One of the lines says "Investment Property Fee - 2.125% - $2,231.25

I haven't seen this before. Has anyone else? Should I try to negotiate it down (or negotiate it away entirely) or switch to a different lender? Or is this normal?

Thanks in advance!

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