Help with reading closing costs breakdown sheet?
The very last line of the right column states "paid from your loan amount", and estimated cash to close is about 79k. For reference, the loan is 109 and the LTV is 80%. To me the paid from loan amount line sounds like the funds I am borrowing from my lender will cover the closing costs, and I will be paying it back to them with interest, but but then it states estimated cash to close provided to borrower as much less than 80% of the PP. I want to make sure I understand before I move forward. Will the 7k be paid from me out of pocket at closing?
Thank you very much!