Posted on: 09th Jun, 2010 04:00 am
Looks like my upfront mip charge is about 2.17% of purchase price. Upfront is added to the loan amount. Why is it showing as part of my settlement chargesif it is already in loan amount.
Shouldnt this 2.17% upfront fee be subtracted from them 3.5% down payment?If it's included in my loan amount?
Shouldnt this 2.17% upfront fee be subtracted from them 3.5% down payment?If it's included in my loan amount?
NO, it's 2.25% and it's added on top of your loan amount.