How high shoukd closing costs be?

[Jesse Aaron]

Hey guys, I’m closing on my first property next week. I just got my disclosure forms and saw that my closing costs are right at 8k. The purchase price is 135k, I put down 10k using a conventional loan with 3.5% interest. Does 8k seem a little high? They estimated $5,700 in the beginning.

[Russell Brazil]

Sounds like you have an unscrupulous lender who purposefully underestimated title costs. What some shady lenders do in their estimates is they list the cheapest title company fees jn the state, would could be hours away, to make their estimates look lower than their competitors.