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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 construction loan fee schedule. I wil be happy to create a good faith estimate of closing costs specific to the lender/program which is best for you. Email construction loan fees questions.

Construction loan fees for new home construction

• 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

• 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

• 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.

One of the questions I frequently get from my clients is about finding a qualified and reliable contractor. After a great deal of research, I do recommend Reliable Remodeler. I have personally used their free service and was very pleased with the outcome. Please complete their contractor referral form for up to 4 local pre screened contractors.

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.

New! View my Wealthbuilder presentation and learn the safe way to manage your debt and fund your retirement.

I hope the information on this page was useful to you. Please scroll down to view my Mortgage Market Guide. It is a weekly publication explaining the financial markets from a consumer's perspective that is available on this website or by email subscription. I have nearly 8,000 subscribers today and would be happy to have you as well. Your email address will never be used for any other purpose.