We're still in the process of trying to close on the house. Flood insurance is still stalled as of last night according to our insurance agent, but our mortgage broker has me really really worried. Our appraisal came back at $145, 000 instead of $149, 000, so the sellers said we would have to cover the rest of the closing costs that they were going to cover to make up for the lower appraisal. Mortgage broker said no problem he can write it into the USDA mortgage up to 103%. He calls and tells us on Monday that he can't do that after all and we have to come up with $2,500.00 cash by the end of the week to make it work.
We ask for the HUD good faith estimate so we can see where the money is going and go over it with DH grandmother who used to be a mortgage loan officer, and he gives us a form with the wrong binder amount, wrong loan amount, no insurance costs, no appraisal fees, no escrow deposits, no survey fees, no loan origination charges, and only $10.00 for government recording charges, etc.
We have it under contract to close on or before April 30. If we don't close before then we loose our contract, our binder, and the first time home buyers credit. I have no faith in this broker right now. Do we have any options?
