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Updated about 5 years ago on . Most recent reply
![Zachary Schimenz's profile image](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/1360719/1621511624-avatar-zacharys112.jpg?twic=v1/output=image/cover=128x128&v=2)
Is this loan a good deal, or a rip off?
I just got pre-approved for a conventional loan through a lender recommended to me by a Turnkey company. Wanted to make sure it's a good deal -this is my first house:
Loan for a $100,000 to $200,000 house with 20% down
30 Year Fixed Rate Loan
4.375% - 4.875% with no points being charge
Lender fee: $1194.00
In the email he also said " There will also be 3rd party fees that will be charged. They will also vary depending on the state and sales price. I would be safe to go with another $1,500 - $2,000." Are these just normal closing costs fees?
I have good credit (780) and am buying an investment property (single family house) in the midwest/south region of the United States
Thanks and let me know if you have an opinion on this!
Most Popular Reply
![Corey Hawkinson's profile image](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/1426810/1630103048-avatar-coreyh100.jpg?twic=v1/output=image/crop=1600x1600@1218x980/cover=128x128&v=2)
@Zachary Schimenz The third party fees are normal. For example, Minnesota has a Mortgage Registration Tax.
Those are pretty good terms.