What closing costs should I expect on a land loan?
Budget for four buckets: the lender's origination fee, the appraisal, title insurance and escrow fees, and county recording costs. All of them are itemized on Turnrow's term sheet before you commit, and all but the appraisal are paid at closing out of proceeds rather than up front.
Origination is the lender's fee, stated as points on the loan amount and disclosed on the term sheet — on a no-doc loan it is the primary cost of speed and certainty, and it is the number to compare across lenders alongside rate. Appraisal and title are third-party pass-throughs at invoice; recording and transfer taxes are set by your county and state, and vary widely — some states charge a flat recording fee, others a mortgage tax that scales with loan size.
On purchases, remember the split between loan costs and purchase costs. The contract may assign some title charges to the seller, and prorated property taxes settle at the table in both directions. Your settlement statement, delivered before signing, lays every line out — read it against the term sheet and question anything that grew.
Practical rule: on shorter-term loans, weigh total dollars over the life of the loan rather than fixating on rate alone. A 12–36 month bridge is a cost-of-deal calculation, not a 30-year one — what matters is what the money costs you between now and your exit.
How Turnrow prices land loans →
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