Updated almost 3 years ago on . Most recent reply
Collateral Desktop Analysis (CDA) fee
Hello,
I am working with a hard money lender to do cash-out refinance on one of my property. The appraiser company, the lender choose charge me $700+ for the appraisal and then i received another email from another company to pay $90 for Collateral Desktop Analysis (CDA). This is my first time using hard money loan and i am confuse as to why i am paying all this money for a appraisal.
is this normal? please any input will greatly appreciated.
Carline
Investor
Most Popular Reply
I know this post is old but perhaps it me posting a reply will help the next person looking for answers.
Yes this is common for commercial loans or Non-QM such as DSCR or hard money loans to have a CDA. As a Mortgage Loan Officer I have some lenders and that charge $250 for the COLLATERAL DESKTOP ANALYSIS (CDA).
It is based on the type of loan product.