$18,000 in closing costs on a $150,000 203k FHA loan.

[Matthew Miller]

So I recently found a two family house in Connecticut that I put an offer in on and after negotiations we settled at $150,000 with $5,000 back toward closing costs. Taxes are $5600 a year. The issue I have is with the estimated closing costs that my lender sent me. The listing stipulates that this home will not qualify for regular FHA, ( which I dont agree with) so it will need a rehab loan, hence the 203k. The estimated closing costs are $18,000 which does not include the 3.5% down payment. This seems way to high to me. Any thoughts or advice is greatly appreciated.

[Caleb Heimsoth]

@Matthew Miller those low money down options sure seem expensive