Link to loan estimate: https://imgur.com/a/4tTooTQ
Are these fees reasonable? We’d initially been told that total closing costs would be in the range of $10,700 and had budgeted for that number. However, we were just given a loan estimate that quotes $18,560 closing costs (includes $6,500 loan costs + $12,000 in “other costs”) without any points.
This is a huge bummer since we’re at the top of our budget and were hoping to purchase points to bring the monthly payment down to a more reasonable rate since interest rates have shot up. Now it’s looking like we might not be able to purchase points without stretching ourselves too thin. (I do have an emergency fund but don’t want to dip into it.)
Any insight would be appreciated. Thanks.
