I have found a house,got it inspected,put up ernest moneyect...MY CLOSING DATE IS IN 4 DAYS.tHE ONLY PROBLEM IS the lender said it was a 100% financing .Then we get some forms exsplaining the loan break down,whitch is fine at the end it says estimated cash to bring to closing 15,000.I call the lender and said i thoght this was a 100% loan,he said it is the forms are pre form .he said i would get other ones breaking it down even more.Any how it went from 15,000 to about 14,00.When i asked the lender about the 100% finacing he said yes it is.Now 4 days till closing I was talking to my agent and he said did i get with the lender about how much money to bring at closing.I said I spoke to them a few days ago and he said nothing about that.Now can anyboudy make heads or tails of this.And can i back out this late.Thanks.p.s. i live in tx.

Did you look at the good faith estimate at the time you signed the loan docs? The Loan Officer should have gone over this with you point-by-point. There should be no surprises at this point in time. I'm guessing this must not have been gone over up front Even on 100% financing you still have closing costs, escrows for taxes and insurance, your first years homeowner's insurance has to be paid etc. Many lenders allow the seller to pay some of these costs but that would have had to be arranged when you signed the P & S. If you were expecting to have to bring no money - that is not realistic. Although - depending on the loan size I am guessing that there are quite a few "points" being added to the close costs. Points are optional usually. Ask if you can do zero points which might reduce the fees. Either you, the loan officer or both of you have badly botched the process if you are only finding out now about these fees.

Is the $15,000 closing costs? or $15,000 besides for closing costs?
Do you have a 6% sellers consession?
Email: Markrosenberg@fairmontfunding.com