Is this loan too expensive?

[Steven Barr]

I just purchased an investment property for $91,250 with 20% down on a FNMA backed loan at 7.625% interest and was charged the following:

3.909% loan origination: $2,854

Appraisal management fee: $85

Processing Fees: $800

Underwriting Fees: $850 

Appraisal Fee: $525

Credit Report: $120

Final Inspection: $150 

Total Lender Closing Costs: $5,384 

**this seems absurdly high on a $73,000 loan. That comes out to 7.37% (and we haven't included attorneys fees in this)

Is this what I should be expecting to pay on these type of loans, or do I need to find a new lender?

Thanks BP!