Greg Newson
Is this private money loan legit?
I've been asked to pay $1,365.00 for Appraisal fee, loan origination and processing fees before loan can be sent to underwriting. It's a 6 month fix and flip loan at 8.65% plus 3 points in and 2 out. It's my first dea...
Natalie Brown
Hard money lender wants a $2k DD fee & $5k appraisal
My client is looking for hard money. I am not very familiar with their processes. They want him to pay a $2k due diligence fee up front and pay for an appraisal of $5 up front with no guarantee of funding. Keep in min...
Blair Murphy
Advice on a Cash-out refi competitor that just contacted me
Hi,I've been in the process over the last couple of weeks looking into a cash-out refi on my 4-plex to re-invest into another like property. I'm at the stage where I've submitted almost all of the requested documents ...
Account Closed
Lender not honoring the original rate
I signed "Uniform Residential Loan Application" on May 18, 2023, and locked in a 6% conventional loan mortgage rate with 0 points. On Friday June 16, 2023, one business day before the closing date (closing is 6/20/20...
Douglas T.
Collecting 1st mo. rent, last mo. rent, and security dep?
Every apartment I've ever rented has required me to pay 1st mo. rent, last mo. rent, and a security deposit equal to the mo. rent.... so 3 mo. worth of rent payments upfront. I'm now using a property manager to find a...
Donovan Plummer
Administrative Brokerage Commission
Hi BPers - I am working with an agent to buy a rental property in Las Vegas that is listed by another agent. However, she just sent me a revised PA that has a $375 Administrative Brokerage Commission. In my experien...
Rafael Floresta
Help me figure out the BS charges on the closing costs my mortgage:
Here is a scan of my closing costs. I know a lot of those are legit, but the settlement charge seems really high, and also the survey. And the Document preparation fee, seems BS. I am already paying for real estate a...
Sami Gren
new jersey real estate license
hello,i want to get my real estate license for new jersey (i currently do not have any real estate license), and would like to know how to go about it. i can only do it in the afternoons or evenings (after 8)so my qu...
Brian Bistolfo
Refinancing: Am I Being Ripped Off?
Hi All,Just got my loan package back from a lender and the fees for this refinance seem very high. Can anyone provide some context on whether all this stuff is reasonable?My credit score: 760Subject property: SFH in ...
Eileen L.
Refinancing fees for 30-yr Conventional Loan
Looking for advice...I'm currently refinancing out of my VA loan at 2.75% to get a conventional 30-year at 2.875%. The reason I'm even doing this is because I now have over 20% equity to avoid PMI fees and free up my ...