Can someone who is more familiar with these loans tell me what they think.
Single Family Rental Appraisal 240K
Rental Income 1.6KLoan Amoung 150K
Take home after all fees paid from loan120K
Have yet to see any documents, but losing 1/5th of the loan on fees seems high to me. What should I look for once I see the documents, besides points and interest rate.
Is this even legal?
Posted by LiveTheDream2026
2 Comments
those fees do seem pretty steep for a 150k loan, losing 30k right off the bat is rough. definitely want to see breakdown of all closing costs, origination fees, and any prepayment penalties they might be sneaking in there. also check if they’re requiring any specific insurance or reserves that could bump up costs even more
Sounds way too high. Who is the lender?