Yes, points are pre-paid interest and usury applies.

Any pre-paid HAP Contract payment beyond the contract termination date must be repaid.If there is, at least, one remaining family member 18 years or older who can act as the "head of household", the HAP Contract will remain in force.

@Shaun, I went back and read all the exchanges. 25k was included his fee, closing cost and prepaid interest.

That's because the first year of PMI is pre-paid for loan set up, no returns.Good stuff guys.Probably won't have the seller carry backs, the 80/10/10 OO deals anymore unless the seller is exempt from the new requirements, then you have a servicing fees to contend with on the second too. :)

I plan to sell my current home (with about $30k in equity) to pay down the mortgage and thus increase my monthly cash flow and decrease my debit to income ratio which will come handy for future deals.However, my true question is in the subject of this post, I have submitted a few HUD offers for Owner-Occupied properties at 30% below the listing price and HUD has counter offer at 10% below the listing price.

They may also require prepaid insurance.

Hopefully you make $40-50k after you pay your mortgage, etc off at the closing table so you can pay off your debits and have a little something for you.

. ($120,000)B) Fannie Mae DFE who will do "The loan amount will be limited to the lesser of: (a) 70-75% of ARV and (b) your original purchase price plus total closing costs and prepaids on the new loan

Also be ready to check your email frequently and respond to their requests quickly.Regarding fees, some is the guaranteed origination fee, some is for the appraisal, then keep in mind you'll also have to pay beyond the down payment an escrow amount and prepaid interest.The rate you get depends on your credit score and what term you get.

Would have decrease my personal mortgage debit by $63,0006.