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Private Lending & Conventional Mortgage Advice

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Daniel Porter
  • Rental Property Investor
  • Dallas, TX
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94
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$8000 escrow for AmCap refi?

Daniel Porter
  • Rental Property Investor
  • Dallas, TX
Posted Sep 15 2020, 14:44

First off, a big ol HOWDY YALL from dallas, everybody! haha. 

secondly, this is my first refinance and i just got off the phone with an amcap broker saying that the escrow fees are going to be $8000. this is an estimate, of course, and will probably be a little lower, but still- that seems really high. 

am i getting screwed here? is there anything i can negotiate here? if i bring my own survey i can save $350, which i think i still have somewhere. 

granted, im dropping my rate from ~7.5% to ~2.75%!! so that'll be HUGE, and in the long run it'll certainly be worth it. that $8000 includes a rate buydown for $400. 

any comments would be much appreciated. thanks for helping out a newb! 

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