Are these closing costs too high?

[Joseph Harr]

I got an estimate for an investment loan for a condo. The closing costs and fees seem very high. Is this in line with what everyone else is seeing? 

[Russell Brazil]

Quote from @Joseph Harr:

Quote from @Erik Estrada:

Seems pretty competitive. You are only getting charged 1 point + about $1200 in UW/Processing fees. What were you anticipating? 

I buy a house maybe once every two years so I posted to see what other people have been paying. This estimate was more than I remember paying for closing costs. 

Also the bigger pockets glossary says they're usually 2-6% of the purchase price and this estimate is at the top end of that range. I'd rather pay less if that's an option.

https://www.biggerpockets.com/glossary/closing-costs

 The closing cost estimate here is 3.7%. This could be reduced to 2.9% by removing the 1 point and paying a higher rate. 

Reserves are not closing costs. Also at 75% LTV, you dont have to escrow those if you dont want. You can pay them yourself.