4% origination rate FHA

[Jay Ag]

Closing on my first MFH with an FHA and just got the closing docs. Lenders origination rate is almost 4% is that too high ?

[Joshua Jones]

Thank you @John Warren . @Jay Ag here is the part others are missing on the comment "Is 4% origination fee high?" Maybe and maybe not. Is this an FHA self sufficiency issue. Meaning did you have to get the payment low enough to qualify ? Do you have a DTI issue? So then the payment had to be lower to qualify? Did we have to keep your ratios below a certain point? On the surface it seems high, but talk to your lender and ask. This is a tough answer to give when we don't know your fico, income, your transaction, the rents on the multi unit appraisal and more. A good lender should be able to explain that to you. Private message me with any other questions