Sale Price, down payment, and loan amount?

[LondonMassey]

I was going over my GFE and the number have the sale price at 55k, down payment at $1925 (3.5%), but then has my loan amount at $54,003?

I am using an assistance program that is paying all of my closing costs and half of my down payment.

I put 2k down as earnest.

Is there something that is charged on to the sale price that I am unaware of? I thought my loan amount would be $53,075?

If it's sales tax, wouldn't that be put into closing costs?

[indecison]

Possibly they are fianncing the up front reserves for HOA, Home Owners Insurance, and Taxes? Its hard to say without looking at the GFE in detail. These might not be something the program recognizes as closing costs.

[StartingOver10]

Since you are getting an FHA loan the UFMIP is added to the base amount that you borrow for a total loan amount of what you see on your GFE. UFMIP is up front mortgage insurance premium.

[LondonMassey]

I just received a text back from my LO and she said it's the UFMIP. Luckily, the assistance program already agreed to pay with closing costs because my loan amount is so low. They have up to 20k they can use.

[indecison]

Forgot about UFMIP. I bet thats it!

[JusdoNit]

Are you going FHA?  Is it the insurance premium?