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All Forum Posts by: Joe Aagaard

Joe Aagaard has started 5 posts and replied 12 times.

Private Lending & Conventional Mortgage Advice

Post: Reasonable closing costs?

Joe AagaardPosted
  • Investor
  • Marietta, GA
  • Posts 12
  • Votes 0

Thank you both for your feedback.  I "locked" with another lender with similar costs but a lower rate.

@ Mark - Single Family 3/2 at $146k net. 

@ Robert - I got the "official" GFE listing 20% down as an investor so I think it's legit.   Glad as that extra 5% would be my repair budget!   

0 Votes
Private Lending & Conventional Mortgage Advice

Post: Reasonable closing costs?

Joe AagaardPosted
  • Investor
  • Marietta, GA
  • Posts 12
  • Votes 0

I'm under contract for my first rental and shopping a loan.  Particulars are conventional loan, 20% down, great credit.  Rate offered was 4.625%

The first quote was $3,300 in lender closing costs detail below.

  • Processing /Admin $592
  • Underwriting $350
  • GA fee $10
  • Appraisal $470
  • Tax service $66
  • Lenders coverage $220
  • Title services fee $500
  • Owners Coverage $645
  • Recording $86
  • State transfer tax $360

None of the above includes interest or funding escrow accounts.  Does that sound pretty reasonable?  Any of it worth negotiating?

0 Votes