Single Family Home Under Contract - Need Advice

[Zac Vaughan]

I currently have a SFH under contract with an FHA mortgage. The purchase price is $148,000 with $5,000 in closing credit. I'm doing 3.5$ down and I have about $13.5K in closing costs with the mortgage company.

From my understanding, that $5,000 in closing cost goes towards that $13.5k so I will only have $8.5K in closing cost. Is this right or am I looking at this wrong? I am starting to second guess myself. Thank you!