Seeking Opinion on Loan Estimate for Multi-Family | FHA 1st Buyer

[Brandon O]

Good afternoon all,

I'm purchasing a multi family at a purchase price of $314,000 with $9k back for closing costs, prepaids, escrow. I'm Using FHA MA Housing First Time Buyer Program w/3.5% down payment assistance program (the 3.5% down payment is financed at 2% interest for 15 years). 

I'm seeking opinions on whether this loan estimate is fair and which fees are negotiable. Is the origination cost the lenders "Commission"?  What would be a fair concession amount to ask for from the lender for, if any? 

See pics attached.

Thanks in advance! 

[affordablehousing]

That seems great! You figured out how to get 100% leverage for your first home purchase. What could go wrong???

[August26th]

This is a ridiculously great deal and you should proceed with no reservations. No need to ask for anything else.

Origination cost is not the same thing as the loan officer’s commission. Think of the origination cost as the lender’s fee to make a loan for you. The loan officer’s compensation is completely separate and they are not tied together.

[J Boogie]

This is a great deal.

As long as your income and liquid assets are high, you should be all set to build equity while you keep your net monthly housing costs nice and low.