[Mitch]

*sigh*I'm a first time home buyer who is trying to analyze a quote from Bank of America. The loan is for $65,500, with 10% down that's $58,950. With about $14,500 in the bank, I don't think we have enough to put down 20% and cover closing costs. The seller agreed to $1,250 in closing plus $550 in homeowners insurance. Besides, they are doing over $500 in repairs. My wife's credit score is around 740 and mine is about 720. I think I will be the borrower and she will be co-borrower. It is a 15 yr. fixed rate loanown Payment.......................$6,550Annual Percentage.................5.576Interest Rate..........................4.875Discount Points......................0.75Total Points............................0.75Discount Fee..........................$442Application Fee.......................$400Processing/Commitment Fee...$725Escrow Settlement Fee...........$450 (approx.)Total Title Fee.........................$381 (approx.)Total Prepaid/Reserves............$1,216 (approx.)Cost at Closing.......................$10,654 (approx.)As of yesterday, 22 June 2009.Does anyone think it's a good idea to add our part of the closing costs into the loan in order to put 20% down? Should I make my wife the primary borrower?