Video Transcript:
The FHA loan highlights its low 3.5% down payment, which is very attractive. However, this is just the beginning and hides the real cash you need. I am David Ghazaryan, and I see this problem all the time. I build loan structures that account for every single hidden cost from the very start. The real money needed is for closing costs, about three to six percent. Then you also have to pay for your insurance and taxes ahead of time. You can make the seller pay for these extra costs, not your down payment. This is a smart move that saves you a lot of your cash. This means your real cash target isn't 3.5%, it's actually much higher. You should plan for closer to eight percent of the home’s total price. The full breakdown for this is in the article on my website. Follow my work on social platforms for more analysis. All links are in the description.
Read Blog Here: https://www.iqratemortgages.com/blog/real-cash-needed-for-an-fha-loan-in-miami-florida
