Updated over 9 years ago on . Most recent reply
Great advice is needed.
Im in process of buying a home in Eastpointe, MI 3 bdr 1 bath 1,330 sqft FHA for 82k but theyre paying the full 6% concessions. So purchase price: 82K FHA: 3.5% down -$2870 Escrow setup and tax perorations- $2500 1 year insurance paid up front -$1,000 Total Cash close- $9370 Credits from seller- $4920 Remaining Cash to close $4450 After I pay $1,000 EMD + $450 appraisal deposit= 3K at closing. I want to house hack too but what I want to know is am I doing ok on this transaction? The property did sale last year for 25K but it was a fix a flip.