In the process of getting a Rural Development Loan. Couple questions.
PMI/MIP will not be included in the mthly pymt. Why is there a one time PMI/MIP Funding Fee of $2600 charged and rolled into the monthly pymt?
Also, per previous blog(from what I understand). Closing cost. If the home is appraised for more than the purchase price the closing cost can be rolled into the montly pymt?
Being a first time home buyer I just want to be clear on charges upfront before the closing date.
Also I've heard that going thru a Mortgage company your loan can be sold to someone else. Maybe I did not word this correctly but you get the idea. Is there a way to keep this from happening?