All Forum Posts by: Alexis Hassun

No , It was an investment property. They might be holding back due to covid and the uncertainty of it.

Thanks Festus for your reply, it's a bank, I'm getting 1% on points and interest rate is 3.875%. I overlooked the initial escrow on the closing details like a dummy. I'm also paying a lock rate fee of 1,700 and underwriting fees of 995. Which does contribute to the high costs. 

John, you hit it right on the money, they're charging taxes and insurance upfront. I dont know why , I already have insurance on the property and I don't escrow. I'm assuming this is standard , I just emailed him about it. Cant believe I missed that, I just looked at the total. 

Hey Guys,

I have a question, I own a property cash and I am looking to cash out refi, The property appraised at 335K and I am cashing out 190K , my closing costs are considerably high, 15K compared to closing costs I have endured when purchasing my home and another duplex. I also refinanced my home for a lower rate and closing costs weren't even close to 15K. Usually around 5k to 7k. Should i be switching lenders or is this typical for this type of cash out? Still fairly new to the real estate game so any thoughts and opinion are appreciated.