Posted on: 16th Jan, 2009 06:55 am
If my FHA limit is $535,900 and I am buying a house that is $570,000 - What is required of me to "put down" in order to stay under the $535,900? I realize that I need to put down the differnce between 570K and 535,900, but do I also have to pay the funding fee out of pocket bc rolling it into the loan would make me over the $535,900 limit?
If the FHA limit in the county in which the property is located, the maximum base loan is permitted up to $535,900.
The Up Front Mortgage Insurance Premium (UFMIP) or FHA funding fee which may be about $9,378 can be on top of thast for a final loan amount of $545,278.
The Up Front Mortgage Insurance Premium (UFMIP) or FHA funding fee which may be about $9,378 can be on top of thast for a final loan amount of $545,278.
what he said ^^^^^^
:wink:
:wink:
