RCRE – What is Included in Closing Costs with Will Coleman
Will Coleman discusses what closing costs are included in a loan closing.
Key Information:
3 Types of Costs
- Day One upfront costs
- Origination Fees
- Miscellaneous costs
Day One Costs
- Appraisal
- Phase 1 Environmental
- Physical Inspection
- Underwriting fees
- Third Party Legal
Ordination Fee
- Generally a 1% of loan amount
Miscellaneous Fees
- Title Search / Insurance
- Escrow fees
- Borrowers legal costs
- Survey
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