Questioning Hard Money Fees at closing. Do these Fees seem right
I got my first hard money loan approval for 47,000. It's a Rental property with a 24 month term loan and no prepayment penalties. i only need the money for 2 month. Waiting on Heloc to process. Does the fees seem reasonable.
Origination Points
1,421.81
Company Consulting Fee
$997.00
NVMS 0
$0.00
Admin
$200.00
Loan Servicing Fee
$180.00
Draws
$0.00
Misc. Fee (GS Cert)
$25.00
Daily Interest 5/30/2019 to 5/30/2019
$0.00
TOTAL
$2,823.81