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Old 04-21-2018, 05:45 PM
 
28 posts, read 33,588 times
Reputation: 19

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We owe $300,000.

New construction with contingency will cost $170,000

Advantage Loan guy says let’s 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, 08:08 PM
 
1,606 posts, read 2,963,476 times
Reputation: 1711
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Old 04-21-2018, 08:43 PM
 
14,394 posts, read 11,252,791 times
Reputation: 14163
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Old 04-22-2018, 11:09 AM
 
Location: NJ
196 posts, read 779,647 times
Reputation: 161
lol
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Old 04-23-2018, 12:40 PM
 
Location: Kings Park & Jamesport
3,180 posts, read 10,544,771 times
Reputation: 1092
Just ReFi.......203k are not that popular on LI. Savings would be minimal, if any.
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Old 04-24-2018, 11:34 PM
 
28 posts, read 33,588 times
Reputation: 19
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, 05:01 AM
 
Location: under the beautiful Carolina blue
22,671 posts, read 36,804,509 times
Reputation: 19891
$32K closing costs on a house you already own???
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Old 04-25-2018, 05:12 AM
Status: "Let this year be over..." (set 23 days ago)
 
Location: Where my bills arrive
19,219 posts, read 17,095,590 times
Reputation: 15538
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, 11:14 AM
 
28 posts, read 33,588 times
Reputation: 19
Yes I own it and I only owe $305k on it.
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