My lender is charging ~9700 closing cost for 950k pre-approval. Is it normal? Any tips on reducing it?
Ouch, ask for a 9k rebate.
Yea shop around. You shouldn’t have to pay anything other than % APR. but shop around well. Small % can make good difference over long run.
Get a mortgage broker
Sounds about right...
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Yup that’s 1% of the loan amount. Make sure he’s not getting anything from the bank (rebates). That way your rate stays low as possible. You can pay less or nothing at all for closing cost but you’ll have a higher rate. The loan broker has to make some money from somewhere. It’s either from you, the bank or both.