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.

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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