[quote=BGinRB][quote=AN]OK, but why would you want to go with FHA when you have 10% down?[/quote]
In case of one of my employees – recommended by his mortgage broker, who is recommended by his “aunt’s friend” agent.
He was sold on FHA with an origination point, discount point and another $2.5K in fees (ex-escrow), all resulting in 5.75%APR.
The aimloan.com cost was $6K less than the friendly broker’s cost and better APR on top of that. All that on a $140K condo.[/quote]
I don’t get it, are you trying to say that FHA was more expensive and that they were “sold” into the loan and not did their research and shop around?
