$45,000 Good Faith Deposit Wire for Refinance

Refinancing a property a little over $3MM. Going with a loan broker that requested $1,500 non-refundable underwriter retainer fee, and a $3,500 non-refundable loan processing fee, and a $15,000 non-refundable underwriting fee, and a 1.25% ( or $30,000 minimum) origination fee at close.

All of this on top of $45,000 wire for a good faith deposit.

Seems way too high to me.

Way wrong. Run away from that broker and try another one.

1 Like

You know a good loan broker??

Working on my first MHP financing process at the moment. Might be able to recommend one in the future. Hesitant to make any referrals until the entire process is completed successfully.

M.J. Vukovich at Bellweather (720) 758-9227


This seems too high.

The $45K deposit would only be reasonable for a Fannie Mae/Freddie Mac or Conduit lender. If he’s going through a regional Bank or Credit union then the fee should be about $25k (no legal fees).

Some fees are non-refundable but typically only if work has been done on the file. IE they ordered the appraisal and it’s half done but then the Borrower backed out. You would only get a partial refund of the appraisal. Same with lender fees etc.

Also, the loan broker should only be charging 1%.

Reply from MJ

"I have a minimum loan size of $3M with a minimum origination fee of $50k. To the extent you have referrals that fit those parameters, I would love to try and help.



MJ Vukovich, Executive Vice President

Bellwether Enterprise Real Estate Capital

3001 Brighton Blvd | Suite 628 | Denver, CO 80216

T: 720.758.9227 | C: 303.877.4045 | E: mj.vukovich@bwe.com | W: www.bwe.com"

Sounds like your guy is pretty expensive and not the right fit for smaller deals.

Will do, thanks Frank you legend