5,000 on a 50k refinance loan?! Is this normal?

[Michael Ohman]

Hello BP family!

So I decided to get off the bench a couple months back and purchased my first property! Long story short I am in the refinance portion, and of course, this has been the most difficult part of the BRRRR strategy. I found a lender that has been great, she answers any and all questions and concerns, the application process was quick and easy. I got my initial disclosure paperwork today and was shocked to find out that my closing cost were gonna be roughly 5,000 dollars! The loans is only for 45k does this sound normal or should I be looking elsewhere for the money? I would love any insight into this situation; when I purchased the properties my closing costs were about 850 dollars so this was just crazy to me!

Thanks in advance for any responses, I am at a loss here.