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Old 04-04-2009, 09:07 PM
 
7 posts, read 23,053 times
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I'm looking for anyone in the Rochester NY area who has been through a 203k and knows contractors in the area - either recommended, or to stay away from!

Second, my GFE has 1 point on it, which the lender is telling me is required, no exceptions. On the other hand, HUD's website says that points and rate are negotiable. I'm also being quoted 5.5%, which seems high right now, even for a 203k. Thoughts?

One more question (which I will take up with my lender Monday): The GFE estimated $9800 in 'settlement charges' (the sum of all listed fees and prepaid items) but $11500 needed to close. Why the discrepancy?

Quote:
From HUD's site:
[SIZE=2]Interest Rate and Discount Points[/SIZE] [SIZE=2]These are not regulated and are negotiable between the borrower and the lender. The amortization of the loan will be for 30 years; however, provisions of the Section 203(k) mortgage (described in Section 203.21 of the Regulations) are the same as prescribed under Section 203(b).
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Old 01-20-2013, 09:22 AM
 
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I live in rochester ,ny . Can I use my deed for security to a loan to pay off my debt without credit check .What bank will accept it ?
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Old 01-20-2013, 09:26 AM
 
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can i use my deed for security to a loan to pay off debt without credit check .What bank in Rochester ,ny .accept it ?
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Old 01-20-2013, 04:33 PM
 
4,567 posts, read 9,664,450 times
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Quote:
Originally Posted by roc dan View Post
One more question (which I will take up with my lender Monday): The GFE estimated $9800 in 'settlement charges' (the sum of all listed fees and prepaid items) but $11500 needed to close. Why the discrepancy?
Only you can tell us where the discrepancy is. The paperwork you were provided lists each item, line by line. So you tell us....... which lines and which figures are different.
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