The categories of closing costs for a commercial or investment property are similar to a residential mortgage, but can be more expensive. Appraisals are more detailed and can cost up to several thousand dollars because the appraiser must use several different valuation methods to determine the value of a property. Environmental inspections or insurance are often necessary and may cost from several hundred to several thousand dollars as well. Other costs are similar to a residential mortgage loan and may include: lenders’ origination fees, application fees, underwriting and document preparation charges, attorney’s fees, survey, title insurance, escrows for insurance and taxes, etc. Total closing costs may range from 2% to 8% of the loan amount.