tag:blogger.com,1999:blog-1936758629223480233.post6438048242096254965..comments2021-07-31T09:09:49.496-04:00Comments on When in Rome: Closing costs?FennRxhttp://www.blogger.com/profile/07462348897397007455noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-1936758629223480233.post-19669101521884988422021-07-31T09:09:49.496-04:002021-07-31T09:09:49.496-04:00The Loan Fund worked extensively with me to help m...The Loan Fund worked extensively with me to help me anticipate some of the issues that my business may face. Not many lenders would go to that length. They’ve been extremely supportive and a great resource.<br />Working with Mr Pedro helped me develop my business plan, ideas and brand before getting started, so I was prepared to open a successful business when I received my loan from Mr Pedro, a loan officer with a huge heart of honesty.<br />Contact Mr Pedro on pedroloanss@gmail.com<br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1936758629223480233.post-9467804517397116272012-03-20T22:13:14.663-04:002012-03-20T22:13:14.663-04:00Just FYI our house cost $230K, we rolled in 10K in...Just FYI our house cost $230K, we rolled in 10K in closing costs taking the final mortgage amount to 240K, we put the 3.5% down required by FHA (which was $8400) and thats the only money that came out of pocket, like legit thats it. We wrote them a check the day we signed our contracts and not a dime more will be due, in fact at closing we are getting some back. Our monthly payment is $1860 which does include $212 PMI (painful but it'll go away in 5 years)Kristina + Adamhttps://www.blogger.com/profile/05844650432604993410noreply@blogger.comtag:blogger.com,1999:blog-1936758629223480233.post-19795624494267720312012-03-20T22:09:08.095-04:002012-03-20T22:09:08.095-04:00We we were told by NVR that with an FHA loan you c...We we were told by NVR that with an FHA loan you could not buy out your PMI. They said that it was a new rule that went into effect when they lowered the lending limits across the nation last fall. <br />We decided that we wanted to finance as much of the closing costs as we humanly could in order to have less money to put down. It seemed like it made way more sense because rolling in 10k in closing costs only increased our monthly payment by like $30. Granted we pay that over 30 years but it keeps money in our savings account to install a deck, fence, paint, etc. <br /><br />Not sure if you are doing a conventional loan or if it differs but we qualified for both an FHA and Conventional and were told that FHA offers way better rates. I'd look into financing your closing costs if possibleKristina + Adamhttps://www.blogger.com/profile/05844650432604993410noreply@blogger.comtag:blogger.com,1999:blog-1936758629223480233.post-43184353584433205902012-03-20T21:10:14.435-04:002012-03-20T21:10:14.435-04:00yes. this is a huge change. we did increase our ho...yes. this is a huge change. we did increase our home cost by $20k from the GFE, but where we are getting confused is the PMI - paid upfront and then paid again in addition to total closing costs; essentially 14k is paid PMI, with 10k put down already. maybe we're just in the dark about this, but on our current home closing costs were <2k and it was a new build...bought from the builder with their mortgage company, and monthly PMI. We spoke with another lender on the phone today, and said that his closing costs would be ~$1,100 w/ a 4% interest rate and just <5k for PMI paid upfront (if PMI is based off of credit scores, why is it different between lenders?) I'm so confused and frustrated.FennRxhttps://www.blogger.com/profile/07462348897397007455noreply@blogger.comtag:blogger.com,1999:blog-1936758629223480233.post-6618182294230249892012-03-20T21:03:37.842-04:002012-03-20T21:03:37.842-04:00Is this a huge change from your Good Faith Estimat...Is this a huge change from your Good Faith Estimate or is this what you've been told all along? Our GFE from NVR was pretty comparable with a quote from another mortgage broker.Rachelhttps://www.blogger.com/profile/13358539472223402638noreply@blogger.com