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Old 04-21-2018, 06:45 PM
 
27 posts, read 14,312 times
Reputation: 18

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We owe $300,000.

New construction with contingency will cost $170,000

Advantage Loan guy says letís take out $500,000.

Closing costs in this are $32,500. (Probably rolled into that $500k.


Are these closing costs accurate?
Is a 203k loan closing cost any different?


Thanks.
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Old 04-21-2018, 09:08 PM
 
1,620 posts, read 2,063,319 times
Reputation: 1668
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Old 04-21-2018, 09:43 PM
 
4,655 posts, read 2,625,045 times
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Old 04-22-2018, 12:09 PM
 
Location: Ozone Park,Ny
179 posts, read 673,675 times
Reputation: 107
lol
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Old 04-23-2018, 01:40 PM
 
Location: Kings Park & Jamesport
3,122 posts, read 8,510,091 times
Reputation: 988
Just ReFi.......203k are not that popular on LI. Savings would be minimal, if any.
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Old 04-25-2018, 12:34 AM
 
27 posts, read 14,312 times
Reputation: 18
Quote:
Originally Posted by Kbinspections View Post
Just ReFi.......203k are not that popular on LI. Savings would be minimal, if any.
Not enough equity. The 203k loans out based on the projected value after construction.
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Old 04-25-2018, 06:01 AM
 
Location: under the beautiful Carolina blue
15,767 posts, read 24,025,669 times
Reputation: 11710
$32K closing costs on a house you already own???
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Old 04-25-2018, 06:12 AM
 
Location: Where my bills arrive
7,184 posts, read 8,780,771 times
Reputation: 6963
Go online there are plenty of Closing Cost Calculators, I agree with twinkles do you own the home already?
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Old 05-03-2018, 12:14 PM
 
27 posts, read 14,312 times
Reputation: 18
Yes I own it and I only owe $305k on it.
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