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March 25, 2009
Closing Costs?
Any ideas what my closing costs should be on a FHA loan of $465K with 5% down?
My GFE has estimated $20K. Seems a bit high. Any thoughts?
Thanks in advance.
Comments
If it's a new construction that sounds about right due to transfer taxes. If not it should be about half.
Posted by: kdabrowski at March 25, 2009 12:24 PM
send me the GFE and I'll let you know what is justified and what is fluff.
With FHA you have 1.5% Upfront Mortgage Insurance which is financed into the loan. That may be a big part depending on the loan size.
Adam
-adahill@approvedfunding.com
Posted by: Adam Dahill at March 25, 2009 7:01 PM
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