I might make an offer this weekend. I need help with answers to some questions...

[DallasLoanGuy]

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@StartingOver10 wrote:

There are two mortgage insurance premiums for an FHA mortgage. One is the upfront premium and the other is the monthly amount.

1. The UFMIP is calculated at 1.75% of the loan amount and is either added to the loan or paid at closing, whichever the buyer prefers. From what I see, most add it to the loan. 
2. The monthly amount = .0085 x loan amount/12 is paid monthly.

Yes, it is common for the UFMIP to be added to the loan amount. 

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correct. it can be paid.... but usually financed(added to loan amount)

interestingly. you must pick one. you cant split it up.

only time i have seen it paid is when seller was giving too much seller concessions... and it made sense to harvest those dollars and pay it.

[Anonymous]

One funny thing about seller assists and I am not sure if I noticed it because I read everything or if it really affects anything but in my appraisal (USDA) there was a box marked (X) for seller assist but the comment was 1-5% was within normal range so the concession did not effect sales price. (Roughly what it said). I have to wonder if 6% might have been considered differently for the appraisal. Something about sales prices not being influenced by concessions.....

[StartingOver10]

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@Anonymous wrote:
One funny thing about seller assists and I am not sure if I noticed it because I read everything or if it really affects anything but in my appraisal (USDA) there was a box marked (X) for seller assist but the comment was 1-5% was within normal range so the concession did not effect sales price. (Roughly what it said). I have to wonder if 6% might have been considered differently for the appraisal. Something about sales prices not being influenced by concessions.....

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^^^Yes, it directly depends on your market. That box is on every residential appraisal. Some markets support X% and others don't.   If the appraisal value doesn't support the seller assist, then it will come in under sales contract price and the buyer and seller will have to renegotiate. It usually is the first thing to get cut (seller assist) if the SCP isn't supported by the appraisal. 

[Anonymous]

Thanks! ^^^