Closing Cost on a Rural Development Loan

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What do you think my average closing cost would be?

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any R.E. agents involved?

4kish I would assume. give or take a G

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blades8088

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They use 2 calculations. One to see if you make too much money, the other to see if you make too much money.
You can see if this helps you for the too much money calculation LINK

For the too much calculation, they will use bonus and overtime, even if you do not have a 2 year track record, which is required to calculate it into the enough income calculation. Essentially, if they show you will make too much money next year, then they will disqualify you

Closed one a while back where the borrower just came in under the limit by 200 per year.

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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?

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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.

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blades8088

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They may have you get something from the employer and get them to project where you may be next year.

How long have you been on that job? Have you gotten the same amount of OT each year? If so, then they will simply average the amount of overtime and use that. Note, that if you have received raises, they may use the amount of overtime not the amount of money made from overtime.

just bought a house using the rural develpment loan.
the closing cost on mine was 4800. bought the house for 100k...