Buying & Selling Real Estate
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated about 3 years ago,
Closing cost confusion!
I’m in the process of looking for a rental property in Oklahoma, and the lender I’m working with has a set price for the closing cost of my transaction. It doesn’t matter if the property cost $120,000 or $80,000. I have done some reading, and learned that generally closing costs are 6% to 8% of the cost of the property. My question is has anyone else worked with a lender that has a set price for the closing cost of a property, and is this a common practice? Is this a red flag, and do I need to search for another lender that will have closing costs that are 6% to 8% of the cost of the property? Thanks in advance.