I have already have a contract on a property and I am trying figure out exactly how much we need in savings for the loan to go through. Contract price in $284,000 with seller covering all closing costs. Our morgage broker once said this:3% down payment- $85003 months expenses- roughly $6000Total:$14500Now he is not giving us a more exact number on the 3 months expenses. If we have $14700 is that enough or should I raise more before closing?
FHA question