Financing in Jacksonville>Question Details

Flarfl, Both Buyer and Seller in Jacksonville, FL

financing inquiry...fha

Asked by Flarfl, Jacksonville, FL Mon Mar 19, 2012

selling house, will need approximately 7k to close deal, leaving cash for fha loan on purchase of home of 12k, down payment will be 7k leaving 5k, fico 800 i need reserves for fha loan?

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FHA is a great process right now. Interest rates are low and with your score all you have to have is the .035% down payment. Now is the time to buy with house prices at the lowest they will get. As a state certified residential real estate appraiser and a Remax Realtor, I know the local market. Give me a call or email with any questions 904-962-8089
Thank you,
Don Price USN-RET
0 votes Thank Flag Link Tue Mar 20, 2012
As long as you meet the down payment and closing costs requirement I would not worry about reserves on an FHA loan with your scores!
0 votes Thank Flag Link Mon Mar 19, 2012
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