Loan Scenario: CA, $43,500, 774, 75% LTV, Purchase
Loan State: California
Loan County: San Diego
Loan Type: Purchase
Loan Amount: $43,500
Property Value: $58,000
LTV: 75%
FICO: 774
DTI: ---
Occupancy Type: Non-Owner Occupied
Property Type: Condo
Not familiar with market conditions costs.
seeking opinions:
1 bedroom condominium
Win HUD bid , under contract to close Sept 4th
Rates for August 11th 2009
2 Lenders offer, fixed 30Yrs 6.0%,
One disclosure shows APR 7.027% for 25% downpayment
been told rate is justified because will rent condo
Origination + 2 points + escrow fees+ other closing fees:
That lender 25% down + $5721.95 (processing 455, escrow fee 1500, appraisal 575 Etc.) Total cash to close $20,221.95
other lender APR not available 20% down + $4956, (Origination + 2 points + escrow fees+ other closing fees) Total cash to close $15,356
Will apreciate your comments and advise
Thanks in advance
Benjamin