Hotel Construction Loan
Review of the Construction Hotel Loan Program
The costs below are general costs we would expect under any program. The program specific costs such as lender points are estimated when the loan program used to finance the hotel construction is determined.
- Lender processing fee: 1K to 4K
- Appraisal and the review: 4K to 6K
- Environmental Phase I report: 2K
- Lender legal fees: 4K to 7K (only if lender uses outside closing attorney)
- Misc such as credit reports, tax services, UCC search, etc.: $500 to 1K