For loan wide variety greater than $3MM (otherwise $2MM to own resource functions), people need to meet post-closure advantage criteria to meet the requirements When debating ranging from leasing versus. to get, you really need to consider your existence and you may funds. Whenever you are leasing also provide significantly more freedom, home ownership enables you to make equity regarding possessions and may also render taxation gurus. FHA funds need a right up-front side mortgage cost (UFMIP), that can be financed, otherwise reduced on closure, and you will an FHA annual financial top (MIP) paid back monthly will additionally use The latest apr (APR) is the price of borrowing from the bank across the name of mortgage expressed due to the fact an annual rates.