No Upfront Fees for Private Hard Money Loans by Blackburne & Sons

No Upfront Fees for Private Hard Money Loans by Blackburne & Sons


– Another question that our
loan representatives often get are up-front fees. What does Blackburne & Sons charge? Well, Blackburne & Sons,
we don’t earn a penny until your deal closes. So we have every incentive
to get things going and make sure it goes smoothly
and as fast as possible. So the only up-front
fees that your borrowers will come into are the
third-party report fees. Appraisal fee and
environmental are the two that are most common, and then of course the broker professional opinion fee that will also be included. Average fees are anywhere from
$2,500 to $3,500 per deal. We do again ask that
those be paid up front, but, if we’re able to get the reports done for less than our estimate,
those funds are refunded to your borrower at the time of closing. So again, Blackburne
& Sons does not charge any up-front fees that are paid to us. We get paid when the
deal closes, so again, we have all the incentive in the world to get it done fast for you, and to get it done at
the best price possible.

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