LOKING FOR ADVICE.

[Sergio Moratto]

Good morning BP family,,

I am looking for advice on this new activity for my new purchase: I was approved by a funding company for $250,000 in the following terms: 

loan balance                           $ 250.000

Interest rate                              3%

loan term                                  30 years

Number of payments               360

Monthly loan repayment      $1.054 

Cumulative payments          $ 379.443

Total interest paid                  $ 129.343,60

To receive that deposit in my account I must pay a fee for 1125 to them to make it effective,

My question is: is that normal to be able to receive it?

Thank you for any advice you can give me, I'll be attentive.

[Joe Biscaha]

Thanks for sharing and checking, thats what the form is for. As others have mentioned this doesn't sound legit. 

If this is a legitimate loan you should be able to ask for a Loan Estimate from the loan officer. I doubt you are getting a 3% rate.