I’m interested in a townhouse where the seller will only pay my closing costs if I go through her husband who is a mortgage broker. He’s listed as the "preferred lender" Is this on the up-and-up? He says he’ll give me as good a deal as any of my pre-approval offers.

I am buying first home and I am confused. My broker e-mailed me a 28 page document to sign and the numbers are nothing like what we discussed. The payment is .00 more per month then stated. The closing costs are over 2,000.00 more then what I thought and there is a paper for me to sign saying that they are not guaranteed to get me the best available loan out there for me.I am so confused and it is night time the office is closed. I don’y know if I can sleep tonight. Can anyone weigh in on this situation? Also not to mention my realtor is MIA. Another vacation, no one to turn to. I am a single mom and I wish I could find a loan that would possibly require less closing costs? Live in texas

I am looking at buying my first home for about 90K. I know I need 3.5% for a down payment. Do I also have to pay for closing costs or can I finance them in the mortgage?

What other costs do I have to pay up front?

Thanks

Fiance and I were qualified for this program 6.5% interest rate, fixed 30 yr, with no money down, and about 00 closing costs? Although we are going through the broker who is charging us .50% loan origination and the lender charges 1%? So, we have about 00 in loan origination. Isnt this too much?

Do they really having no closing costs on purchases and refi’s?

In my approval letter it states that the seller will pay all closing costs and prepaids. So the money the seller pays will that come off of the amount I finance or be added to the amount financed. Example: 100,000 closing cost/prepaids 5000 would that be 95,000 financed or 105,000. I’m a first time buyer and really confused. Help ME Please.

My husband and I are scheduled to close on our first home on March 28th, so five days away. It is a 1,941 square foot home in Fort Worth, Texas. We were approved for a 15-year FHA loan at a 5.5% fixed interest rate. The builder had the house listed at 3,990 and said they were discounting it to 7,990 because they are trying to meet their quotas and their year end is March 31st. Our realtor and his wife are both in the real estate business. He is a realtor and she is a broker, so they are getting a big commission off this deal with the builder. The realtor is going to pay off apartment lease (0 per month and we have 3 months left), and pay two mortgage payments for us at ,511 and some change. We both have fairly low credit scores (mine 534 and my husbands 575), but we got 100% financing. They are rolling our closing costs, appraisal fees, etc. into the loan.

Does this sound like a good deal? Is there anything that sounds fishy?

im buying a new construction condo and the builder wants 5,000 down to finish the house (tile and flooring), but that was the money I was going to use for my closing costs. Since I will have paid down part of the principal, could I finance the closing costs?
my mortgage is 100% financing

My boyfriend and I would like to buy a house. We have no money down. We are looking between 130k-190k. We want to roll this into obviously a 100% financing mortgage, including closing costs. I am not sure for this finance amount how much PMI would be. I would like to avoid PMI and maybe get an 80/20 loan. The thing is…in 3 years my boyfriend will have his bosses job, which ups his salary quite a bit. I was thinking if we took the 80/20, once he got that job we could pay the 20% part off rather quickly, then be left with the 80%. Is this a good idea? Or is the PMI a much simpler way? How much does doing the 80/20 up the rate? I need some suggestions!
thank you to those of you who understood what i meant by 2 loans (80/20). And though i do appreciate the concern about buying a house with a boyfriend and not a husband, the question was about mortgages, not my personal life.
thanks for all your help everyone….we did get pre-approved already for much over what we are looking for, and we both have excellent credit scores……so i think the 80/20 is the way to go! THANKS!

I got a letter from this company and it knows how much I owe on my current mortgage. What I’d like to know is how they can offer to lower my fixed rate without closing costs and fees (as stated in their letter)? Sounds like some sort of scam? Anyone heard of Vertex before?

I am planning to purchase a 200,000-250,000 home in the state of Michigan, outright with no mortgage or any loan.

Hypothetically, if I purchase a home for 200,000 what will be my total outlay of cash before the home is actually mine? Assuming I am not taking out any loan to finance this home.
Also I am not sure how much I am going to be able to negotiate for zero closing costs as I am already planning to put in an offer about 10% under the listed price.

Finally, why does the owner care if its an all cash offer or not? They get their money either way, just from me and not a finance company.

What interest rate can I expect on a mortgage loan with my credit scores?
Today I have 564 588 654…I am hoping to have my mid-score up 10 pts by tomorrow, and then i am applying for the loan with the bank. I want a fixed rate, 100% financing, 30 yr loan for 0,000. My income and debt ratios are good. I am closing on the Aug 6th. I have already had the house appraised at 2K, I am paying over K in closing costs, and the house has been inspected. This is my first home purchase, is there anything I am missing?