Can closing costs be financed within the 102 Loan to Value?
Not exactly unless you are including the 2% RD fee. When the appraisal exceeds the contract, the amount of difference can be used to cover the regular closing costs. The base loan with normal closing costs is 100% LTV. The RD fee can always be tacked on. Financing in all the RD fee will result in a LTV of 102.04%. We dont want to try to explain a 102.04% fee, so we say it is 102% LTV in our advertising. What happens when a borrower is married, but her estranged husband is no where to be found. Is there a way around that since the husband wont sign? There is no divorce or separation agreement. See your closing agent. You must be able to obtain first lien, MARKETABLE title.
