New Member
Posts: 5
Registered: ‎10-19-2012
just need "clarification"

I plan to apply for FHA 15 yr. fixed in Febuary. Purchase price is $85000 . With the required 3.5% down that would leave the "balance" financed  arround $82000.  When looking at FHA's required front end and back end ratios % ( .31  and .43), do lenders use the initial purchase price ($85,000) or the amount after the 3.5 is applied ($82,000) ?Thanks