10% Closing Cost in Memphis?

[Chris Ono]

Hi everyone, We're looking to purchase 2 turnkey properties from Memphis Invest, but the mortgage company that was recommended (not by them, but they work with them regularly) is charging 10.1% to purchase price in closing cost. Most of what we're finding is an expectation of 4-6%. Are we misunderstanding something or does this seem outrageous? Thanks for reading.