Will Coleman discusses what closing costs are included in a loan closing.

Key Information:

3 Types of Costs

1. Day One upfront costs
2. Origination Fees
3. 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

Contact Information:          

 

Will@randcre.com

 

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