Example Of Payment And Total Fees Please
Hello
Can someone give an example of payment and total fees out of pocket expenses for hard money & equity loans using this example? And none owner occupied
Comparables and comps on street 70000
Purchase price 55000
Fico score 704
In order for you to get the correct information you would need to call your broker or lender and discuss. Every state, town, and county have different set fees you must pay. Every bank has different fees. No one would be able to answer your question with any reliable answer because it is so vague.
Lori
[addsig]
This is where the Good Faith estimate comes in for every loan that is being started and a lender is found that will do your loan within 3-days they are by law required to give you a good faith estimate on what the cost of the loan is going to be but that still dosen't mean that will be the actual cost at closing it could change at the table but usaly it dosnt happen. So it gives you an idea when you get the good faith estiment you can figure thats the ball park. At this point your not obligated to go for the loan you can shop around and get diferent quoats from different sorches but then the problem comes in of credit serchs to many and there goes getting any loans out the door. but figure this for every loan done there are ruffly 10 people doing the work puting it together for you closing cost and points are how they get paided. 8-)