Can I roll closing costs into my mortgage?

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I approved a mortgage loan before 90k. My mortgage company told me I’m ready for a FHA. In conclusion I would come to about $ 4,500.00. Is it possible to be able to add $ 4500.00 on my mortgage? I do not want to pay out of pocket.
I closed on a mortgage loan in March 2007. My lender inadvertently did not request a copy of a check stub made during the lender underwriting Prozesses.Der this error when trying to sell my loan to a group of investors. They say they can not sell it until I get my loan this information. They whirl and I am not obliged to provide this information at the time, lenders generally do not service loans and they say they could not service as well as the investor (an investor known in mortgages) have amEinerseits think I should send them right to help a stub. However, this case. 1 day later, when I closed my loan and my rate lock expires, they charge me a fee to relock.Au├čerdem my advice I’m not sure if there are problems that I am not including. Any advice is needed.

  1. Reply
    Glenn S
    February 6, 2011 at 8:43 am

    No….except for the MMI (mortgage insurance).

    Consider asking the seller of the property to pay part of your closing costs. In a FHA loan the seller is permitted to pay up to $ 2700 of your closing costs on a $ 90,000 purchase. 3% of the sales price.

    Often times the amount of the sellers paid costs to the buyer are added to the asking price of the property….if the house will appraise for the added amount.

  2. Reply
    February 6, 2011 at 9:23 am

    yes it is possible. It depends on your eligibility and the value of the property. They will not loan more than you are approved for and they will not finance more than the property is appraised for. Talk to your loan officer.

  3. Reply
    Age of Reason
    February 6, 2011 at 10:21 am

    No. the lender will not approve that high a mortgage and you are going to need more then 4500. There are always a few added costs

  4. Reply
    Arbor Mortgage
    February 6, 2011 at 11:07 am

    The seller can pay up to 6% of your closing costs. All your agent has to do is write that into your purchase offer. You will still be required to bring the 3.5% down payment to close, though, which will be $ 3150 on a 90k sales price.

  5. Reply
    February 6, 2011 at 11:55 am

    Do you believe in Karma?

    Act accordingly.

    The fact is that it really makes no difference to you who you send the check to. If you decie to accomodate them it’s just a courtesy on your part.

  6. Reply
    February 6, 2011 at 12:08 pm

    Dig through your closing papers. There is probably an agreement buried there where you agreed to cooperate in any post-closing audit of the financing. If they pull that out, you will have to comply. But frankly, if you have the documentation, just give it to them. Or ask for a token fee for the hassle — get dinner out of them if you can.

  7. Reply
    AE N
    February 6, 2011 at 12:27 pm

    They should have been more careful. Talk to your lawyer that you used for the transaction, just to protect yourself

  8. Reply
    February 6, 2011 at 12:29 pm

    This happens all the time. There are a lot of documents in the closing paperwork, and something that didn’t affect the closing gets left out. Whomever your current lender is, they helped get you to closing without that document, probably to save time on your behalf. Error, or not, I’d probably help them in getting them what they need. It won’t affect the loan in any way.

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