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Updated almost 6 years ago,
4.6K closing cost (excl. prepaid) on 62.5K property, seem high?
Hi guys,
I got an initial disclosure from a lender for a loan on a 62.5K property. The terms are 30 yr fixed 5.375%.
Here is the snapshot of the closing costs excluding prepaids/escrow.
I confirmed with the lender that the appraisal fee is $700 (400 appraisal + 300 rent schedule). Other than that.. it seems high even ignoring the loan discount points. I was expecting maybe 2K closing on a 62.5K property. Which of these items do you think is out of normal range for this property?