http://www.fhaloanpros.com/2008/07/apples-oranges-part-ii/ The Unofficial Guide to FHA Loans & Mortgages Tue, 06 Jan 2009 23:06:48 +0000 http://wordpress.org/?v=2.6 http://www.fhaloanpros.com/2008/07/apples-oranges-part-ii/#comment-23251 Nina Sat, 23 Aug 2008 15:49:57 +0000 http://www.fhaloanpros.com/2008/07/apples-oranges-part-ii/#comment-23251 Hello, I would like to verify if seller could contribute the UFMIP that is added to my loan. I am about to close my FHA loan with the mortgage company and I thought I read it somewhere that seller could pay the MIP. Seller already has offered a big incentive during the sale of the hme 6 months ago and closing cost assistance at the same time, could seller still pay for the MIP? Thank you for your answer. Hello,
I would like to verify if seller could contribute the UFMIP that is added to my loan. I am about to close my FHA loan with the mortgage company and I thought I read it somewhere that seller could pay the MIP. Seller already has offered a big incentive during the sale of the hme 6 months ago and closing cost assistance at the same time, could seller still pay for the MIP?
Thank you for your answer.

]]> http://www.fhaloanpros.com/2008/07/apples-oranges-part-ii/#comment-21079 craig Fri, 25 Jul 2008 15:05:40 +0000 http://www.fhaloanpros.com/2008/07/apples-oranges-part-ii/#comment-21079 These houses are selling so far below the appraisal values, that raising the price 3% can definetly fly under the radar. At the end of the day i belive that no borrower should be able to take out a zero-down loan. Its bad underwriting practice the main reason we are in this housing mess to begin with. Borrowers should be required to put 20 down. If you can't afford that then you can't afford to own a house! Just my thoughts... These houses are selling so far below the appraisal values, that raising the price 3% can definetly fly under the radar. At the end of the day i belive that no borrower should be able to take out a zero-down loan. Its bad underwriting practice the main reason we are in this housing mess to begin with. Borrowers should be required to put 20 down. If you can’t afford that then you can’t afford to own a house! Just my thoughts…

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