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Real Estate
Reply to "FHA loan"
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[quote=Anonymous][quote=Anonymous]We just closed on an FHA loan for 450k. We make about 180k and at the time of the loan, we had about 8k in the bank and 40k in a 401k. We borrowed the down payment from the 401k. We were told that sellers can't pay closing for an FHA loan, but we were able to roll our closing costs into the loan. i would recommend talking to a loan officer and seeing what they think about your current numbers. [/quote] We closed on an FHA loan in June and needed 3 months of reserves of the mortgage in the bank and our sellers paid our closing costs. [/quote]
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