I'm currently refinancing an investment property that I originally bought cash to obtain a $70,000 30 year loan, and the closing costs come out to $5,054.
This seems a bit high as I've heard closing costs are typically 3% to 5%. Any thoughts??
I have a good credit score and the interest rate is 4.75%. Here are the main costs - can you let me know if anything looks way too high:
Loan Orignation fee: $1,400 Processing Fee: $395 Underwriting Fee: $895 Appraisal Fee: $450 Title Fees (a bunch of small ones that add up to): $1,685