tell me if this cash out closing cost number sounds right??

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tell me if this cash out closing cost number sounds right??

Rudy Brown
Investor · West Palm Beach, FL · Member since 2013 · 25 posts · 7 votes

Hello everyone, 

I am in the final "R" of the BRRRR strategy and I just received my estimated cost to close. It seems really high to me. See below:

Loan Amount = $127,500

A. Origination Charges = $2186.88

B. Services Borrower did not shop for (Appraisal)= $875.00

C. Services Borrower did shop for (Title) = $2487.75

D. Taxes and other Government fees = $948.25

E. Prepaids = $153.70

F. Initial Escrow Payment at Closing = $2304.12

TOTAL = $8995.70

Doesn't this seem astronomically high to you? Thanks in advance! 

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  • Tarrence C.
    Middletown, NY · Member since 2016 · 18 posts · 6 votes
    8y
    @Rudy Brown hey guy, no they don’t however I’m in New York check with your lender to make sure you have everything some lenders require even more in escrow when there rehab involved... my last one closing fees totaled 62k really!
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