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Updated over 2 years ago on . Most recent reply

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42
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Raj Konda
  • Investor
  • Thousand Oaks, CA
16
Votes |
42
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higher closing costs for a construction to perm loan

Raj Konda
  • Investor
  • Thousand Oaks, CA
Posted

I m working on my first construction project. Current lender ( referred by builder) gave $12K cost in there disclosure estimates. I understand some costs - I can shop around but section A & B is almost $9K. This seems very high to me and want to check with the group on thoughts.

If you think of any efficient lender for const. loan in FL - please suggest

~$250 loan amount, single family, investment home

Most Popular Reply

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Erik Estrada
#3 Private Lending & Conventional Mortgage Advice Contributor
  • Lender
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Erik Estrada
#3 Private Lending & Conventional Mortgage Advice Contributor
  • Lender
Replied
Quote from @Raj Konda:

I m working on my first construction project. Current lender ( referred by builder) gave $12K cost in there disclosure estimates. I understand some costs - I can shop around but section A & B is almost $9K. This seems very high to me and want to check with the group on thoughts.

If you think of any efficient lender for const. loan in FL - please suggest

~$250 loan amount, single family, investment home


 This looks fine to me. There are a few junk fees but it's not going to be a deal breaker to go switch and start the process all over again with a new lender. Also this looks like an LE which they usually disclose higher fees. 

Just make sure they can close this. 

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