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Can Gift Funds Be Used For Reserves On An FHA Loan?

January 24, 2024 by Ahmed Ali

Can Gift Funds Be Used For Reserves On An FHA Loan? What can the FHA Gift Funds be Used for? The gift funds can be used to cover the down payment, FHA closing costs, or even the reserves needed for approval. If the gift is large enough, it could cover all of those items referenced

How Much Maintenance Reserve Should I Have?

January 24, 2024 by Emily Lee

How Much Maintenance Reserve Should I Have? How Much Should I Have? If you have between 5-10% of your property value in reserve funds for maintenance emergencies you are doing great. Anything less than that opens the door to potential problems if an emergency happens. How much should I set aside for reserves? That’s why