Quartermoon

FHA Loan Downpayment Question

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Can you finance downpayment and your closing costs with your mortgage loan? Is the downpayment 3% of amount?

Is is possible to have it in your loan so you have less costs at the refi?

Pennsylvania FHA.

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You can get seller participated down payment assistance through www.getdownpayment.com or www.ameridream.org. The down payment assistance provider gives you the down payment in trade for the seller reimbursing them the same amount (+ a processing fee) from the seller's sales proceeds.
Wow what a blessing for some people.

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IT's a refi I should have said that, mia culpa.

You can wrap the closing costs into your loan if there is enough equity. I believe Pennsylvania is considered a high closing cost state (percentage of standard closing costs vs. loan amount), if so on a loan amount of $50k or below the max LTV is 98.75%, > $50k it's 97.75%.

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