Posted by MistarellaFL on 5/22/06 2:56pm
Msg #121516

Anyone do construction loans?

If so, what is a "normal" size package and do you charge differently than standard refi's?
I have one today that is over 150 lender pages!
Yikes & galaxies!

Reply by BrendaTx on 5/22/06 3:07pm
Msg #121520

Mistarella - do not move to Texas...OMG...150 does not even make me blink.

Reply by MistarellaFL on 5/22/06 7:56pm
Msg #121586

Brenda....

It was actually about 200 pp. when all was printed.
Can you advise me of how much you charge?
Please feel free to $$ compare it to other loans without disclosing your fees:
refi, heloc, hecm, purchase?

Reply by TitleGalCA on 5/22/06 10:34pm
Msg #121632

Mistarella

Our Carolyn of Colorado is the expert on construction loans. I hope she doesn't get annoyed I posted her name. Do a search.

IMO a commercial construction loan *shouldn't* be more complicated that a regular signing, but that's an assumption. As there is more money in commercial deals, and require a professional, I'd up my normal fee by 50%.

I do construction loans in my title company capacity and they can be one of two things 1) a major PITA; or 2) easy and simple.

I opt for charging for the worst case scenario. Just my opinion.