I have no debt, a good stable job making about $60k+ gross, and $20k saved up with about $10k in my 401k that I'm thinking about using some if not all of it towards the closing costs of the home I want to buy.

Welcome to the community and be ready for a huge amount of information at your finger tips.

This can be a compromise if not aligned with long-term vision.

Here’s our OPINION for the Metro Detroit market (use as a template for your target area!)

This guarantor, who may be an individual or another entity, will be responsible for the difference between what is owed to the lender to make them whole and what has been recovered.If the lender makes the loan to an individual (natural person), this person is implicitly the guarantor via the note, and no separate guarantee is needed.

I have clients that use the strategy every month.

The information contained in this post is not to be relied upon.

From the conferences I have attended, all I have read I think 3x rent is more common but that doesn't mean your PM is wrong. 

If your roofer didn’t provide info on this, I’d ask them or check GAF’s website.

On BP, you'll find many tips and insights to help you on this new journey.