Closing Costs Seem High in Indy

[Dave Olverson]

Hi All,

I am looking at a deal currently on a $72,000 property, where the loan amount would be $57,600 (20%).

Everything looks good and the rate from the lender is 4.75%, which works well for me.

The closing costs are strangely high, though. Origination charges are $2,058 and the total (including origination) is $4965.10. This property is in Indianapolis.

Is this normal? It seems extremely high for me and I would just love to know what the lender is doing - if they are taking me to the cleaners or if the closing costs are all pretty standard and I won't be able to find a better deal elsewhere.

Also, if I SHOULD look elsewhere, how do I find a lender on my own?

Thanks so much!