Feb
09
On a COMMERCIAL MORTGAGE, how much should I expect to pay at close?
By
On an $800K commercial real estate purchase, how much would I be looking at on the settlement statement? On a $2.5M transaction, the same…?
Repossession
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2 Comments
June 2nd, 2009 at 3:24 pm
I would expect very different numbers. It all depends on how it is structured. That is whether you are paying points or taking a higher rate.
All that should be spelled out in detail prior to closing, but the closing costs sould be shocking.
Down payments could be pretty steep too.
June 5th, 2009 at 4:51 am
my ballpark guess on the 800K loan the title, legal review and escrow fees will be 1% and the lender fee 2%
on the larger 2.5 mil transaction, somewhat less
..25% title, legal, and escrow; and 1% for lender