Closing costs on my first deal...need help
Hey BP, I'm under contacts so far and I asked the lender to provide me a Cash to Close Statement. This is my first deal so I would really appreciate some seasoned guys/gal to help me look at this statement. It just seems there are so many fee's especially the MIP fee. Are all these really necessary or is some of it fluff.
Purchase price $370K with 37k down (FHA loan). Property is in North Jersey
Estimated Closing Costs: $699
Loan Origination Fee Appraisal Fee $475
Final Inspection Fee $150
Mortgage Insurance Premium $5825 (this seems way to high)
Closing Protection Letter $75
Fee Endorsement Fee $125
Insurance Binder Fee $115
Lenders Coverage Premium $1546
Personal Legal Rep Fee $1000
Settlement Fee $550
Recording Fee For Mortgage $450
Tax Stamp For County Deed $250
Home Inspection Fee $500
Owners Coverage Premium $350
Pest Inspection Fee $150
Survey Fee $750
Total Estimated Closing Costs: $13,012??