How much should I save for a FHA loan in Atlanta Georgia

[Derrick Hines]

How much should I save for a FHA loan in Atlanta Georgia

[Grant Doyle]

@Derrick Hines Hey Derrick I am purchasing a four-plex with an FHA loan and one thing I have never heard about on the podcasts or on the forums was that for FHA on multifamily properties you have to have 3 months of payments in reserves, in addition to your closing costs. So if you monthly payment is $1,000 and your closing costs are $5,000. You would need to recognize $8,000 with your bank sometime before closing. Hope this helps paint a better picture for what you'll need!