Fees for commercial lender --upfront application orig fees?

Fees for commercial lender --upfront application orig fees?

Fresno, CA · Member since 2015 · 552 posts · 181 votes

This lender I'm trying to work with that my loan officer found wants to charge a $2500 lender fee upfront

Is this common in commercial lending?  It's for a multifamily.  I've never had to pay fees up front.  Also their loan they quoted is about .5% less then other lenders LOIs so I did prefer going with them

0Reply
9 views

3 Replies

Jump to latestLatest
  • Investor · Phoenix, AZ · Member since 2017 · 583 posts · 919 votes
    7y

    Yes, this is common. $2,500 is actually on the lower end. I'm used to seeing $7,500+ application fee. 

  • Investor · Charlotte, NC · Member since 2017 · 791 posts · 479 votes
    7y

    @Susan O. yes, in fact its on the lower side.

  • Investor · Taylor Mill, KY · Member since 2016 · 2k+ posts · 964 votes
    7y

    @Susan O. Unfortunately this is typical.

Join the conversationCreate a free account to reply, vote on answers and follow this thread.