cash out refi closing cost

[Mae Tariman]

Hello all! Is it "normal" to pay $15k for cash out refi closing cost for 220 loan??? I still owe 162k, house value is approximately 280-300 but the quote given to me has 305 as estimated value (pending appraisal), but i feel like 15k closing cost is toooo much.... any input will be appreciated. thanks!

[Joe Splitrock]

Originally posted by @Mae Tariman:

Hello all! Is it "normal" to pay $15k for cash out refi closing cost for 220 loan??? I still owe 162k, house value is approximately 280-300 but the quote given to me has 305 as estimated value (pending appraisal), but i feel like 15k closing cost is toooo much.... any input will be appreciated. thanks!

 I refinanced a couple properties in this price range over the last year and paid around $2400. That was prior to the cap on investor loans, which has driven up costs. That still seems high to me. Request a sample settlement statement that has line item break down of all charges. Post the break down of expenses here and I will be happy to review.