View Full Version : Ok another lender, broker, loan question..?
Blown Lavey
11-04-2005, 12:12 PM
What would you say are normal fees associated with a 470k construction loan start to finish in az.
Thanks.
soupersonic
11-04-2005, 01:32 PM
You pay interest only on the money the builder takes as a draw until it closes.Provided it closes on time and you dont have to extend it. Theres a lender that will do zero down depending on the appraisal, but usually you just come with your closing costs when it closes.
On edit : typically a mortgage banker has less junk fees than a mortgage broker
totenhosen
11-04-2005, 01:33 PM
look into a bridge loan
soupersonic
11-04-2005, 01:36 PM
look into a bridge loan
Why when there are so many one time close construction loans?
rivercrazy
11-04-2005, 01:50 PM
Normal fees typically include:
Loan fee (typically 1%)
Doc fee
Title insurance
Escrow fee
Appraisal fee
Inspection & draw fees
Environmental due dilgence fees (depending on the history and condition of the land)
Geo fees (sometimes also depending on the condition of the land)
INSman
11-04-2005, 03:40 PM
What would you say are normal fees associated with a 470k construction loan start to finish in az.
Thanks.
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