A ball park figure for "other costs" is 3% of the loan amount for median price homes and some of those costs can often be pad by the seller, the lender, the agent or some one else on behalf the borrower. There is a much wiggle room with a generic scenario such as what you stated.
Minimum Down Payment: 3.50% which can come from Immediate Family, Labor Union, Employer Group, Non Profit 501C3 and other down payment assistance
Up Front MI of: 1.75%, added to Loan
Monthly MI of: 1.25%
Maximum Loan Amount SFR: Loan amounts are set by counties. In many northern California counties, the limit is $580,000. Loan amounts above $417,000 have additional costs and or rate increases. In the San Francisco Bay Area, FHA loan limits are as high as $729,750.
Maximum Seller Concession: 6%
No minimum FICO requirements but most investors are holding to their own established minimum credit score corporate overlays
100% financing with no down payment!
Property must be 8 acres or less
Property canâ€™t have a pool
Properties must be located in eligible rural areas (generally towns with a population of 20,000 or less that are removed from an urban area)
Income limits are 115% of the U.S. Median Income (for most counties, the 4 person household income limit is $65,000 maximum)
No cash reserves are required
Borrowers are not required to be first time homebuyers
No Loan limit restrictions
Minimum credit score of 620 from most lenders
No down payment required
Loan amounts up to $650,000
Must have DD214 with honorable discharge
Fairly reasonable underwriting guidelines
Must be owner occupied
Multi-Unit by two or more eligible veterans may consist of up to 6 family units
Bankruptcy and foreclosures do not necessarily eliminate veteran from qualifyingâ€“ looking for 2 years in most cases
No cash reserves required