Am I paying too much?

[Cynthia Carrier]

Hello all, looking to close on a primary sf at the top of 2024. About to go into underwriting. Already have a sf rental - conventional. Current set up:

$313764 purchase price/ 5% down conv 

$8000 builder credits

$9000 commission towards down pymt 

$5000 earnest money

$4000 gift

$6000 additional cash 

Paying $8942 points for 5.75% 
Paying $7064 up front pmi

$7744 estimated closing costs 

$2790 prepaids 

Lender says need another $10K to close

Debts $640 (lender says add an additional $174 on top of $640 because 2024 taxes without homestead exemption on newly converted rental. Converted to rental 10/2023. As a result, dti is at 49%). 


What can I do to reduce closing costs based on what I’m working with?

Am I paying too much?

Can I go fha instead? (we’re moving up. Also closer to my husband’s work).  Rental and primary are less than 100 miles apart.