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Updated over 13 years ago on . Most recent reply

User Stats

297
Posts
5
Votes
Travis Elliott
  • Real Estate Investor
  • Cebu, Philippines
5
Votes |
297
Posts

Did I get decent financing on this deal???

Travis Elliott
  • Real Estate Investor
  • Cebu, Philippines
Posted

I am buying a SFH for 35000.

Here is what kind of financing I got from the bank.

4.8% interest NOO
20% down ( I was told 15% but in the end it was 20%)
Origination fee $750.00
My charge for this interest rate $280.00
No MIP since I put 20% down
I need to show six months reserve on this house and two months reserve on my other house.
Plus all of the normal closing fees...

I didnt think that it was that good of a deal at first but it dosen't look too bad any more.. Thoughts? Opinions?

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