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Updated about 14 years ago, 10/14/2010
Closing on a FHA Loan
I am buying my first home which is a duplex in Short Sell for 72,000 dollars I am putting down the 3.5% for the FHA requirments....I am going to live in one side and rent the other side which will almost cover the complete morgage, it all sounds great but now I am faced with the closing cost which is estimated to be around 7000 dollars.
I thought this was a little high on a loan for 69000 after my 3.5% down...does this amount for closing sound average or is it a little high? Any suggestions will be great.