Thursday, May 8, 2014

Is $10,000 enough when buying a house if you do FHA and Seller assist?


I really just want to know how long my hubs and I are going to have to be somewhere to save. We're able to $2,800 a month for 6 months in savings and right now we have $4,000 in savings. We will need an FHA loan of 3.5% down and seller assistance.

In your opinion, is $10,000 a good amount to have or should we try for more?
Added (1). I should say even if we save for 4 months we'd have more than $10,000 in our savings. We're staying with his parents and I don't really want to stay for 6 months.
Added (2). We don't have a specific house in mind, but we were pre-qualified for $250,000. We hope to find something under $200,000.
Added (3). We're in Bucks County, Pennsylvania. My husband and I pull in $61,000 annually. We have no major debts. Just school loans. Both under $15,000 and we're current with them. We have furniture. We're staying with his parents.

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