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Updated almost 7 years ago, 01/10/2018

Shannon K.'s profile image
Shannon K.'s profile image
Shannon K.
  • from Buffalo, New York
  • Member since Oct 8, 2015
Connect

User Stats

252
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109
Votes
Shannon K.'s profile image
Shannon K.'s profile image
Shannon K.
  • from Buffalo, New York
  • Member since Oct 8, 2015
Connect
Shannon K.
  • Buffalo, NY
109
Votes |
252
Posts
Buying & Selling Real Estate

ASTRONOMICAL FHA 203K Closing Costs?

Shannon K.
  • Buffalo, NY
Posted

Hi everyone. I am looking for help from those familiar with FHA 203K rehab loan closing costs. I received my loan estimate...

$95,000 loan total.  Almost $14,000  FOURTEEN THOUSAND in closing costs?! <--Does not include my 3.5% downpayment either. Is something wrong here?

This is my first live-in flip and first time dealing with any kind of FHA loan. Does anything here look askew? Renovations permits should = $0 (there is no permitted work being done). Are there things I can eliminate/reduce?

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