Becoming a landlord can be a lucrative and rewarding experience, but it also requires careful planning, legal knowledge, and responsibility. Renting out a house as a new landlord can seem daunting. Still, by following the proper steps, you can successfully navigate the process and build a profitable rental business. This article will break down everything […]
Investing in Airbnb properties has become a popular strategy for individuals looking to diversify their income streams and capitalize on the booming short-term rental market. However, like any investment, purchasing a property for Airbnb comes with challenges and considerations. Here’s what you need to know before diving into Airbnb investment properties. 1. Research the Market
Buying a home is a significant milestone for many, often representing a culmination of hard work and dreams. Whether you’re a first-time buyer or looking to upgrade, navigating the real estate market can be daunting. One way to ease this process is by enlisting the help of a buyer’s agent—a real estate professional dedicated to
Investing in real estate can be lucrative, but it requires significant capital upfront, particularly in the form of a down payment. Understanding the nuances of down payments for investment properties is essential for making informed financial decisions and maximizing your return on investment. Here’s what you need to know about putting a down payment on
Putting a Down Payment on Investment Property: What to Know Read More »
Renters insurance is a crucial, yet often overlooked, component of renting a home or apartment. Unlike homeowners insurance, which covers the building itself, renters insurance is designed to protect the tenant’s personal belongings and provide liability coverage. Understanding the ins and outs of insurance can help renters make informed decisions and ensure they are adequately
Investing in real estate is a time-tested method of building wealth and securing financial stability. One popular tool for purchasing property is an FHA loan, traditionally associated with homebuyers looking to secure their primary residence. However, can an FHA loan be used for investment properties? The answer is more nuanced than a simple yes or
Using an FHA Loan for Investment Property: A Complete Guide Read More »
Sonic Realty is committed to ensuring accessibility for individuals with disabilities. We are continuously working to improve the accessibility of our site for everyone and welcome and recommendations to improve.
| Provider and Settlement Service | Charge or Range of Charges |
|---|---|
| Sonic Realty LLC | 1%-6% of purchase price |
| Sonic Title Agency, LLC | Title Insurance Policy: $950 - $1706 on a $250,000 property. (Rates vary and are dependent on the state, selling price, and loan amount on the property.) Title Search Fee: $250 - $325 (where applicable) Closing Fee: $450 - $650 |
| Sonic Loans Inc. This company provides various real estate mortgage loan origination activities either as a third-party originator or a mortgage broker, including loan pre-qualification, competitive bid process (when providing third-party origination services), loan origination, loan pre-approval, loan structuring, processing, and closing. | Loan Origination Charge: 0-3 % of loan amount (may include 3rd party fees) Loan Discount Fee/points: 0.5%-6% of loan amount. Application/Processing Fee: $0.00 - $875.00 Flood and tax service: $0.00 - $95.00 Underwriting Fee: $0.00 - $1295.00 Document Review Fee: $0.00 - $400.00 Appraisal Fee: $0.00 - $850.00 Credit Report Fee: $0.00 - $135.00 Actual charges may vary according to the particular lender selected, the particular services provided, and the underlying transaction, borrower selections, etc. Some or all of these fees may be charged by third parties and/or the Member Mortgage Lender/Mortgage Broker. The Member Lenders and Mortgage Brokers have agreed to pay a fee ranging from 0.5% to 2.75% of the loan amount to Sonic Loans in connection with a range of loan origination services provided by Sonic Loans to the Member Lender/Mortgage Broker. The fees are paid either directly to Sonic Loans by the Member Lender/Mortgage Broker or billed directly to you at closing. |
| Provider and Settlement Service | Charge or Range of Charges |
|---|---|
| Appraisal Fee | $0-$800 |
| Credit Report Fee | $63-$125 |
