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Updated almost 6 years ago on . Most recent reply

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Dale Miller
  • Real Estate Agent
  • Buffalo, NY
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Is it possible to wrap closing costs into rental property

Dale Miller
  • Real Estate Agent
  • Buffalo, NY
Posted

Is it possible to wrap closing costs into rental property mortgage?

Some loan estimates I've been getting requires an extra 5k plus taxes and escrow to have at closing. 

25% down payment plus 8-10k additional to close is adding up a little fast making me sweat LOL

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Brian G.
  • Rental Property Investor
  • Los Angeles, CA
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Brian G.
  • Rental Property Investor
  • Los Angeles, CA
Replied

@Dale Miller you can ask the seller for $5k credit toward closing which will lower the out of pocket amount needed for you to close (ie the seller covers your closing cost). You can have your RE agent include this in your initial offer.

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