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FHA

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Icon Mini Profile marklavender1





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Post Posted: Tue Oct 06, 2009 5:48 am    Post subject: FHA
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Can closing costs be financed into an FHA loan, or do they absolutely have to be paid at the time of closing? Or does this vary by lender?
Icon Mini Profile jveenstra
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Post Posted: Tue Oct 06, 2009 9:33 am    Post subject: Closing Costs
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You need to make a minimum down payment of 3.500% for the FHA mortgage. Closing costs can not be financed into the FHA mortgage.

Closing costs can be paid in several ways in full or a combination of the following:

1. You pay them
2. At the time of the purchase contract, ask the seller to pay up to 6% of the purchase price toward closing costs
3. The lender may be able to increase the mortgage interest rate and pay some of the costs.

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Icon Mini Profile sunnyca2009





Joined: 04 Aug 2009

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Post Posted: Fri Oct 09, 2009 6:45 pm    Post subject:
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Try this and there is different discussion

http://www.mortgagefit.com/fhaloan/closing-costs.html
Icon Mini Profile dollylee9





Joined: 19 Jul 2009

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Post Posted: Sat Oct 10, 2009 8:52 am    Post subject:
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Icon Mini Profile kashifmahmood0703





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Post Posted: Sun Oct 18, 2009 10:06 pm    Post subject:
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minimum requirement is 3.5% of FHA mortgage...
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