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Loan Fee for Loan Amounts up to $100,000
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Application Amount Up to:
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Total Fee
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Amount to Collect with Application
|
Balance Due at Loan Closing
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$25,000
|
$500
|
$100
|
$400
|
$50,000
|
$700
|
$125
|
$575
|
$75,000
|
$900
|
$150
|
$750
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$100,000
|
$1,100
|
$200
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$900
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Loan Fee for Loan Amounts over $100,000
APPLICATION FEE: 0.1% of the loan
(maximum $2,500)
UNDERWRITING FEE: 0.5% of the loan
(maximum $5,000)
LOAN FEE: 1.0% of loan amount
Please note: The underwriting fee (less $500) will be applied toward the loan fee at closing to produce the Net Loan Fee. This is shown in the table below that displays fees for sample loan amounts.
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Sample Loan Fees
|
|
Paid With Application
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Paid At Closing
|
|
Loan Amount
|
Application Fee
|
Underwriting Fee
|
Net Loan Fee
|
Total Fees
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$250,000
|
$250
|
$1,250
|
$1,750
|
$3,250
|
$500,000
|
$500
|
$2,500
|
$3,000
|
$6,000
|
$750,000
|
$750
|
$3,750
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$4,250
|
$8,750
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$1,000,000
|
$1,000
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$5,000
|
$5,500
|
$11,500
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$1,250,000
|
$1,250
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$5,000
|
$8,000
|
$14,250
|
$1,500,000
|
$1,500
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$5,000
|
$10,500
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$17,000
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Please discuss your specific loan fee with program staff who can also calculate fees for other loan amounts. The application and underwriting fee are to be paid at the time of application and are non-refundable. Some loans may require additional charges for construction disbursements, legal fees, holding costs, or other direct costs.
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