Question by Bobbie F: If your approved for a FHA loan and your mortgage lender is using the Genesis program is there any more help?
I need more help for closing costs and downpayment. The home is in Oklahoma. I’m a single mom and 1st time homebuyer.
Best answer:
Answer by Chris M
FHA is not theonly way to go. what is your reason for going FHA?
maybe you should shop your mortgage broker. I’m sure you shopped for your home. your mortgage will end up costing you 10 times more than your home over the next 30 years.
Good luck and congrats on your new home!
Know better? Leave your own answer in the comments!
Not too familiar with Genesis… but i heard that you can ask the lender to help you with closing cost. The down payment, you should come up with at least 3% if I’m right. The better to do is ask some more questions and negotiate really good with the people that is involve right now. Seller is one and the lender. Maybe you can ask mom or dad or anybody to co-borrow with you. if not, think about putting a halt on this and try maybe next year when you are really ready and after all, you still have some reserves left (for just in case). Remember, if you’re short now, you still have some mouth to feed and some expenses to worry about after you moved in.