Overview
Closing costs can vary depending on the loan product, loan amount, and the state in which the transaction occurs. Here, we provide a general guide to the typical closing costs you might expect when securing a loan with New Silver. Please note that all fees are subject to change.
Loan Types and Associated Costs
1. Fix and Flip and Ground Up
Fees Paid to New Silver:
Origination Fee: varies
Underwriting Fee: $1,000
Legal Fees: $1,350
Title and Insurance Review: $500
Additional Costs:
Prepaid Interest: Varies
Feasibility Review (as needed): $150-$450
Title and Closing Related Charges:
Title Insurance
Title or Attorney Closing Fees
Recording Fees
Applicable Town, State, and/or Transfer Taxes
2. Rent (Rental Property Financing)
Fees Paid to New Silver:
Origination Fee: Varies
Underwriting Fee: Varies ($0 - $1,250)
Lender Related Charges:
Processing Fee
Closing Fee
Prepaid Interest, Taxes, and Insurance
Escrow Reserves
Title-Related Charges:
Title Insurance
Title or Attorney Closing Fees
Recording Fees
Applicable Town, State, and/or Transfer Taxes
Note on Variability The specific costs and fees can vary by state and the specifics of your loan agreement. These estimates provide a framework, but it's important to discuss the final figures with your Loan Advisor to understand the exact costs you will have at your closing.