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Financing in Dayton : Real Estate Advice

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Wed Jun 13, 2012
Michelle Smith answered:
With the information you've provided, your chances sound pretty great! 28/47% DTI is well within the range acceptable for FHA loans. You only need 3.5% down for a down payment, and the grant will cover that as well as most of your closing costs and pre-paids. (The additional 2K in contributions from the seller will likely be way MORE than what you will need in the end, so I do not foresee any reason you would need a gift from your parents or fiance.) Obviously, I don't know ALL of the specifics of your appication, but based on what you've given (barring any surprises on your credit or appication) things are looking good for you! ... more
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