I was wondering if anyone has an idea as far as how much the closing costs should be on a $103,400 property located in Altamonte, FL (north of Orlando). I'm getting 2 loans, 80% & 20%, to avoid having to pay mortgage insurance. My good faith estimate says that I need to come up with $6,600. Could this be right? I'm puzzled because I purchased a $180,000 property 2 months ago (same 80% & 20% deal) and my closing costs were around $7,000. How could a property almost half the price have closing costs so high? Am I being ripped off or what?
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