$6850 in closing cost

[Tony Dinh]

Hi everyone,

I am closing on my first rental property and this is the closing cost details that my lender sent me last night. The property is $115,000 and I am putting a 25% down payment on it. The total closing cost is $6850 which seems excessively high in my opinion. Are there any fees here that are out of the norm.  Thank you for all of your help in advance.

[Terrell Garren]

@Tony Dinh

Wow, thanks for sharing. I've bought around 20 SFHs in North Carolina.  The purchase price is generally in the $100K to $135K range.  I pay cash and handle my insurance outside the closing process. My closing cost is usually $500 for my attorney, $100 for title insurance, $26 recording fee, and any prepaid taxes paid by the seller. I usually whine like a baby if my total closing cost is more than $1,500.  Good luck.