Borrower would require the following amount of cash to close $309,000 Purchase Price-$231,750 loan proceeds$77,250 Down payment requiredPlus:$1,160 Lender Fees (0.5% of the loan amount)$6,900 Brokerage Fees (3% of the loan amount)$3,500 Legal Fees (Lender and Borrower side total Estimated)$2,500 appraisal Costs – if not completed and if one is required$3,500 Phase 1 Environmental Cost – if not completed and if one is required$17,560 – Estimated costs Total capital required approximately = $94,810My question is what are typical costs for Lender fees?

I will be getting documentation stating the cleanup occurred doing phase 1 and phase 2 environmental. 

I am in Maryland where the state and the county I live in are historically ahead of most parts of the country in adopting new codes and environmental regulations.  

You might have to pay for several studies that will tell you if there any age problems like Asbestos, Lead Paint, and any environmental problems. 

And insurance will vary depending on size of house and environmental factors, but compared to all the other expenses it would be so nominal of a percentage.The only thing that is not included in the standard 70-80% formula, is your personal and or corporate income tax rate.

Are you talking about an environmental test?  

If the due diligence on the improvements is positive e.g. structural, roof, environmental then it sounds like you've got a killer deal on your hands.You didn't mention the market, metro, secondary, tiertery so you'll want ensure there is enough depth in the market to fill any vacancies as units go vacant.

I have a Master’s in Environmental Law from the University of Wisconsin-Madison and a Law Degree from the Catholic University of Peru.  

And since this property was across the street from a very prominent destination lake, governmental action would be swift and strong should any environmental contamination issues come up in the future to protect the lake. 

How about those who check to see if the property you are purchasing might have some environmental hazards/ chemicals or might have been built on some old dumpster/gas station?