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Updated about 4 years ago on . Most recent reply
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Analyze closing costs
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Hello,
I am a first time investor that is very brand new to RE investing. I am a DACA recipient doing a conventional 20% down owner occupied loan to house hack a fourplex. These are the closing cost I received from a local lender. Total loan is 295k. The area for property & lender is south Texas area (Rio Grande Valley).
Are total closing cost amount normal for my type of loan? It seems high (especially administration fee) so wanted to check with you guys here how it sounds. I am afraid of being taken advantage because of first deal and DACA status. If costs are high, how can I approach lender to reduce?
All feedback/advice is deeply appreciated.