Ok so apparently I was a little off on the figures (everything was done in my wife and mother-in-law’s name so I only got bits and pieces from each). I guess the appraisal fee was around $800 or so, inspection was $500, lawyer fee was around $300-$400, and then some other small fees; and it was NOT an FHA underwriter, but the bank’s head underwriter. So it wasn’t as bad as I thought before but still sucked to pay for something and get absolutely nothing out of it. And I know that its the nature of the business for the realtor, but I still felt bad b/c she was absolutely great and spent countless hours with us… and then ended up with nothing. Going through SEFCU.
Getting the hell out of this money pit… lol.
I wasn’t expecting to actually get approved so we have been putting our money towards paying stuff off and have very little saved up for a down payment. With an FHA loan, its only a minimal 3.5% down… but FHA is a little anal when it comes to the house condition… and apparently has gotten even more anal. There can’t be any peeling paint on the exterior, no major holes/damage on the interior, etc. But with the low down payment, and good rate, its worth it.