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Old 07-08-2009, 07:51 AM
 
12 posts, read 47,961 times
Reputation: 12

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Hello,

I am currently in the market for a FHA loan (no points/origination fee).

For a 475K loan with 3.5% down-payment, the typical estimates I have received from lenders are in the range of :

Govt. Fees: $3300
Third-part Fees:3600
Escrows: $3500
Total cash required (excluding down-payment): $10500
All figures vary within +/- $500 from different lenders.

Monthly payment(PITI+PMI): $3500

I am confused that some lenders quote interest rate of 5.4 and some at 5.8 and still the monthly payments are pretty much the same.

Do these figures look reasonable. All your feedback's are appreciated.

Thanks
PH
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Old 07-08-2009, 11:25 PM
 
3,164 posts, read 6,925,191 times
Reputation: 1278
Just went through a closing and our buyers paid $10,000 in closing costs.

Have you tried the online mortgage calculators? If you google mortgage calculators, you'll find lots of them.
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Old 07-08-2009, 11:28 PM
 
3,164 posts, read 6,925,191 times
Reputation: 1278
Here's another thread on this subject:
http://www.city-data.com/forum/north...s-nova-md.html
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