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Updated about 3 years ago,

User Stats

64
Posts
22
Votes
Manley Woods
Pro Member
22
Votes |
64
Posts

Closing cost confusion!

Manley Woods
Pro Member
Posted

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.

  • Manley Woods
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