Updated about 2 years ago on . Most recent reply
Estimating Closing Cost
Can anyone offer further insight as to what we should expect for closing cost, with respect to a conventional loan for simplicity? The BP calculator expresses 1-2%, but I have heard more like 3-4% to be on the realistic / safe side. However, in my short experience, it seems like closing costs are closer to 6-7% of purchase price, which may or may not include property taxes paid separate.
Main concern in getting down to the details, is that it can substantially affect the CoC return. I also don't know if its unusual to have that much out of pocket, plus whatever my down payment and potential rehab is.
Appreciate any conversation.