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Looking at two different bridge loan options for a strip mall deal
I had to choose between a local bank offering a 7.5% rate with a 90-day close and a broker who found a 6.9% rate but with a $15k upfront fee, and I went with the broker because the math worked out better over the 18-month term, but has anyone else faced a similar fee-versus-rate tradeoff?
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ryanf6622d ago
Yeah, I did that math once and got it totally wrong... ended up paying more in fees than I saved on the rate. Good on you and @evan_nguyen23 for actually figuring it out. That $15k upfront hurts, but over 18 months, the lower rate definitely wins.
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