You will typically need to pay an application fee and to pre-pay for all of the due-dilligence reports such as surveys, inspections, and title searches, and possibly environmental reports. After you are approved for the loan, you will need to pay a commitment fee in order to execute the loan commitment letter.
Recently, I paid $8K for the application fee, $12K for the due-dilligence reports, and a commitment fee of 1.25% of the loan amount. All of these costs were non-refundable and this lender would allow them to be paid at closing. I'm not sure whether these dollar amounts are standard for the industry, or whether these were simply what my lender charges. I also don't know whether there are other lenders out there that will allow these costs to be paid at closing anymore.
Jan 29, 2010