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Home Equity Loan or HELOC

I am in the market for a home equity loan for debt consolidation in the amount of $30,000. I was offered a product with a 7.5% interest rate, but more than $2,000 in closing costs. This seems unreasonably high for such a low loan amount.

It also appears that property tax and home insurance are bundled into the payments, for some reason, which surprised me. I currently own the property outright.

Is this normal? Am I being taken for a ride here?

submitted by /u/RangerNo5619
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source https://www.reddit.com/r/RealEstate/comments/1h7wwyi/home_equity_loan_or_heloc/
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