What's A Good Rule Of Thumb For Closing Costs?
2%?
I am looking for a lender who can do no points, no seasoning, competitive rate on 7/1 ARM (for a NOO 4-plex), at 80% LTV, with low (zero) closing costs. Anyone ever seen such an animal?
Never seen zero closing costs, but I have seen closing costs rolled into the mortgage loan. The only money you bring to the settlement table is used for the pre-paid property tax and insurance escrow.
Never $0 closing costs... Investment properties cost more to do... even with fannie/freddie stuff because it literally costs more to do the loan and nobody is going to do your loan for free or even pay to do your loan for that matter.