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Joshua R.
Pro Member
  • Investor
  • Chicago, IL
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87
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How much money do you need when trying to get FHA203 Pre-approved

Joshua R.
Pro Member
  • Investor
  • Chicago, IL
Posted Nov 20 2015, 11:53

I am in the process of purchasing my first investment property. I am setting up meetings with a few different FHA Consultants to discuss pre-approval for an FHA 203(k) streamline. The loan is for 200,000.00. How much money should be available when trying to get pre-approved? Should I have just the down payment ready, or the down payment+closing costs, or a certain percentage of the entire loan? Please any insight or experiences that can shed some light to this question will be greatly appreciated. Thank you in advance!

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