Are the following exclusions from points and fees allowed: (a) up to 1 point of the FHA mortgage insurance and VA funding fee; and (2) up to 2 bona fide discount points?
• Excluded points and fees in connection with a residential mortgage loan are 1% of the total loan amount attributable to bona fide fees paid to a federal or state government agency that insures payment of some portion of a residential mortgage loan, plus an amount not to exceed 2% of the total loan amount attributable to bona fide discount points or a conventional prepayment penalty.
Related Questions
- Are the following exclusions from points and fees allowed: (a) up to 1 point of the FHA mortgage insurance and VA funding fee; and (b) up to 2 bona fide discount points?
- Are the following exclusions from points and fees allowed: (a) up to 1 point of the FHA mortgage insurance and VA funding fee; and (2) up to 2 bona fide discount points?
- How many points of service can I have on a building and how many weatherheads are allowed at each point of service?
