The house is only 10k. So if I pay 10k cash, how fast can I do a home equity loan for that 10k? I need to make repairs as it is a foreclosure in poor condition. Can I do a refinance loan and get more than I even paid for it if it appraises higher than 10k, which it will? Thanks for any help

My credit union wants to charge me $5,654 in closing costs to refinance my house for $200k. The house is worth more. I’m shocked! What are all these fees–origination, underwriting, processing, administration, preparation and “loan discount” and should I pay them? Why do they want prepaid interest when it is in the payments? Why reserve 2 mos insurance? The “estimated settlement charges” are $8,365–is that excessive?? Thanks anyone for any help. If I carry it myself and my son makes payments to me (he lives in the house but can’t get his own loan yet) can I get a home equity loan any cheaper?