All Forum Posts by: Chris Garrett

Thank you for the responses. I will question the lender about everything that seems off, I just needed some third party advice which I appreciate very much. There is a $500 appraisal fee also on the disclosure. Are they ever negotiable on any of these fees?

I’m doing my first buy and hold purchase for a long term rental. I’ve received my loan docs back from my (conventional) mortgage lender and he’s included a $995 loan fee. This seems a bit excessive to me. Also included is 0.5% points and prepaid (12 months) of insurance @ $600. The loan amount is only 54k. Any thoughts? The loan application fee seems high to me and Is prepaid insurance normal? Thanks!

Welcome Ray! 

Looks fantastic! Did you do the work yourself?

How do you prescreen applicants? Just by sending a list of requirements?