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Construction Loan Fees

Construction Loan Fees

Construction lending is, by its very nature, more expensive to administer. As a result construction loans are assessed several construction loan fees in addition to the loan fees normally associated with closing a mortgage loan. If you need information on our normal loan fees, please see the page on our fee structure. I have included information on common construction loan fees here. Each of our 22 lenders has it's own fee schedule. I will be happy to create a good faith estimate of closing costs specific to the lender/program which is best for you.

Construction loan fees for new home construction

Construction Loan Fee $500-1000
Project Review Fee $450-750
Modification Fee $150-300 depending on your Title Company
Final Inspection Usually $100. Billed as charged by Inspector
  • For all construction inspections (required prior to each draw) you will be charged the cost for each inspection as billed by the inspector.
  • Some States will require Title Updates be done prior to each disbursement. We will require an update prior to the final draw disbursement.

Home Improvement/Rehab loan fees for existing structures

Construction Loan Fee $500-1000
Project Review Fee $300-700
Modification Fee $150-300 depending on your Title Company
Final Inspection Usually $100. Billed as charged by Inspector
  • For all construction inspections (required prior to each draw) you will be charged the cost for each inspection as billed by the inspector.
  • Some States will require Title Updates be done prior to each disbursement. We will require an update prior to the final draw disbursement.
  • There may be a charge for a final survey which may be required at modification.

Construction Second Trust

Construction Loan Fee $350
Project Review Fee $225
Modification Fee $150-300 depending on your Title Company
Final Inspection Usually $100. Billed as charged by Inspector
  • For all construction inspections (required prior to each draw)  you will be charged the cost for each inspection as billed by the inspector.
  • Some States will require Title Updates be done prior to each disbursement. We will require an update prior to the final draw disbursement.
  • There may be a charge for a final survey which may be required at modification.

Learn more about construction loans

NEW! I have written a series of newsletters covering construction/perm financing which are available free.

If you are not ready to build but have found the perfect lot. The new Purchase Plus Lot Loan can save you a great deal of money.

Search the site for more information.

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As a Certified Mortgage Planning Specialist, I offer an analysis of your situation today can make suggestions on how small changes in how your debt is structured today can have a life changing effect in the years to come.  Read more about this free, no obligation service.

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