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Another NSP-2 House for Sale in Reservoir Hill – 2518 Brookfield

CHECK OUT THIS NEW NSP-2 HOUSE AVAILABLE IN RESERVOIR HILL What’s NSP-2?  Click Here

  • Over the course of the past year Healthy Neighborhoods (HNI) has been working with M&T Bank to reduce closing cost expenses for borrowers using the HNI home improvement loan product. M&T Bank has approved changes to the settlement fee structure that will reduce closing cost expenses due from the borrower for the home improvement loan product, but also first mortgages with rehab and first mortgages only. This fee structure will be implemented effective September 3, 2013. The matrix below outlines the new fees. Please note that the origination fee has been eliminated from the home improvement loan product and it has increased from 2.0% to 2.25% for acquisition rehabs and refi rehabs. Transaction Type First Mortgage w/Rehab First Mortgage Only Home Improvement Loan Construction-Renovation Origination Fee Title Insurance Mortgage Recording Flood Certification Survey Tax Service Inspection Fees Title Bringdowns   Not Applicable Standard Pricing Yes Yes Yes Yes Yes Only for loan > $100K       Not applicable       Not Applicable     Permanent Origination Fee Title Insurance Mortgage Recording Flood Certification Survey Tax Service   2.25% Not Required Yes (for Mod Agreement) Yes Only if foundation altered Yes; ½ of standard rate   1.5% Standard Purchase Rates Yes Yes Yes Yes   Not Applicable $2.85 per thousand Yes Yes Yes Yes  Please feel free to contact Carl Cleary at the RHIC offices for questions related to this change: 410.225.7547.