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Updated almost 5 years ago on . Most recent reply

Dale Miller's profile image
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Dale Miller
  • Real Estate Agent
  • from Buffalo, NY
  • Member since Mar 26, 2020
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Dale Miller's profile image
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Dale Miller
  • Real Estate Agent
  • from Buffalo, NY
  • Member since Mar 26, 2020
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Dale Miller
  • Real Estate Agent
  • Buffalo, NY
28
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163
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Private Lending & Conventional Mortgage Advice

Is it possible to wrap closing costs into rental property

Dale Miller
  • Real Estate Agent
  • Buffalo, NY
Posted

Is it possible to wrap closing costs into rental property mortgage?

Some loan estimates I've been getting requires an extra 5k plus taxes and escrow to have at closing. 

25% down payment plus 8-10k additional to close is adding up a little fast making me sweat LOL

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CJ M.
  • Rental Property Investor
  • from Canton, OH
  • Member since Dec 25, 2017
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CJ M.
  • Rental Property Investor
  • from Canton, OH
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CJ M.
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CJ M.
  • Rental Property Investor
  • Canton, OH
Replied

@Dale Miller

Yes. "Up" the purchase price (assuming it'll appraise a little higher). Use the extra cash for closing and down payment.

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