please info???

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can anyone help me? I am buying first home and my mortgage broker quoted me a good faith estimate and everything is alot higher then he said. Loan is 100% financing no money down, credit score 695. Price $ 122,500.00. In Texas.I need payment around 780 not much higher but his closing costs are around $ 6200.00. This is really high for me. His origination fee is $ 1837.50. I am self employed but have tax returns and bank statements prifit loss statement. I just need to know if there is a better deal this is the first guy I went to and don’t have experience? please help

Additional Details

3 hours ago
oh and by payment i mean just payment taxes will be $ 233.00 per month and insurance is $ 45.83 per month so that would be added to 780

1 Comment
  1. Reply
    Real Estate Source
    April 29, 2011 at 11:21 pm

    Origination should only be around 1% and your payments could seemingly get a lot less (especially if you did some kind of 5 year interest only ARM)….

    I’d shop around….Maybe look to an FHA loan, or a program called ACORN….Your credit score sounds pretty good. I know BofA has some good programs out there (past clients have told me). Contact Bank of America, Countrywide, or some other big banks and ask about FHA or ACORN for 1st time homebuyers. There’s a link to the ACORN program on my site under “First time Homebuyers.” It could save you a lot….

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