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re: Closing Cost on a Rural Development Loan
Posted on 3/22/12 at 7:47 pm to BeauCephus307
Posted on 3/22/12 at 7:47 pm to BeauCephus307
quote:
I am buying a house through a rural development loan in St Landry Parish for 90K. What do you think my average closing cost would be?
The RD fee will be about 1500, 1 yr of hazard insurance could be about the same. Title fees will cost you 1500-2000 and the lender fees can be all over the place.
You may also get a lender credit for the rate (unless you are paying a discount fee for a lower rate)and the seller may pay some of the closing cost.
USDA also allows you to roll closing cost into the loan, as long as the appraisal is high enough.
1
Posted on 3/22/12 at 8:41 pm to novabill
Thanks guys sounds like what Im looking at is about average then. 
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