Reserve Account for FHA

[Daniel Shadle]

Sorry if this is the wrong forum section. I was just pre-approved for an FHA loan for my first house hack. I have been in school for the last four years and thought that my high student debt (100k+) and low income would prevent any form of conventional financing.

     My question is what kind of reserve is needed before the first buy? I'm looking to have 10k for closing and an extra 5k in a reserve account. I want to use a buyers agent to split the commission to have a little extra brought to the closing table. I'm trying to stay fairly conservative because when my student loans come out of deferment I wont have much extra beyond the rent for the unit I owner occupy. I'll probably end up getting a roommate for my unit to free up extra capital also.