I have a good deal on my mortgage?
I bought a house in the San Diego area with a VA loan. Price $ 349,500 was requested, but the evaluation only came to $ 315K. The owner near the stern, but decided to take the $ 315K, but I wanted to bring some closure costs and pays only $ 1,500 of tax $ 3,500 VA (I think it is the cost of financing, but could be something else). I have no problem with the buyer save $ 2K, but I'm worried by how it is changing my loan. My credit scores are mid 700 and have an interest rate of 5.5% but the lender pays the additional amount of $ 2K and my interest rate increase of 6.0%. Is this typical and / or watered me? Thanks The VA does not allow the buyer to pay these costs, however, in the end, I to pay an interest rate that could cause redness usurer.
Sounds good. nothing of real fish. the loan to value has increased so the rate has increased. you did not mention the duration of the loan if the rate you mention is a crap shoot … But not ridiculous, regardless mandate. Enjoy your new home.
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