Closing costs in Jersey

Is your friend a licensed mortgage expert? If not, do yourself a favor and don't take mortgage financing information from an unlicensed person. ALL LOANS essentially have the same closing costs, and YOU will always pay them. But you have options on how to pay them, and based on the option selected, how does it affect your interest rate. Without viewing actual situation, my guess is $8k is probably the ballpark real cost. Paying this will get you a much lower and better interest rate. You can also select the lower $1500 option, but the lender will simply give you a higher interest rate on the loan so that you end up paying the real costs over time, versus up-front today. Talk to your local mortgage broker. tell them you'd like to see both of those rate and cost options. Then pick which one works best for you. I lend in WI MN IA ND SD. Find me at WI-MortgageBroker.com - Cambria Mortgage, NMLS 274132