Did I get decent financing on this deal???
I am buying a SFH for 35000.
Here is what kind of financing I got from the bank.
4.8% interest NOO
20% down ( I was told 15% but in the end it was 20%)
Origination fee $750.00
My charge for this interest rate $280.00
No MIP since I put 20% down
I need to show six months reserve on this house and two months reserve on my other house.
Plus all of the normal closing fees...
I didnt think that it was that good of a deal at first but it dosen't look too bad any more.. Thoughts? Opinions?