Quick Tip on FHA

Many lenders will tell you a 3% commitment is needed for FHA financing. That is correct, but, here is something you might not know or be told.

A 3/4 % origination may be charged on the loan and may be buyer financed. This can do several things.

• Require less money at closing.
• Lower your rate
• Slightly raise your payment.

Normally your payment will raise slightly but sometimes a good option.