Questions About Financing????????

this is the deal i am buying this property for $572,000. it was appasied at $575,000. the apparior said it had a hard time getting a good appasial because nothing in the area compared. but they got a few with about 5+ acres less than mine so they wrote in there we used these comparisions and we just have accessive land. witch i plan to develope( another words she said the apraised property is not at its best use). I got the owner to hold a note in the amount of $242,000, I am getting 65% LTV so I will be getting a hard money loan for $373,750. 330,000.00 To owner 20,000.00 payments in advance on the note 18,000.00+ this is what the lender is saying to closing costs will be and the loan will be @8.9% i am a builder and i know its a good deal what i will make on the homes i build on it will cover all costs and then a lot more. what i am wondering are these good numbers for a hard money loan. thanks mark [ Edited by markcam on Date 07/13/2003 ]