Down Payment

[Anonymous]

By mid December I should have about $25000 saved up to put down on a house. I figure about $20000 of that is going to be for a downpayment. The thing is it won't be until that time that I'll have the $20k to put down. When should I start looking for a house if I am going to try FHA? By mid November I should have about $15k. Will the lender want proof of the $20k down as soon as I put an offer in, or can I prove that I will have the $20k when it is needed?

Thanks,
Johnny V.

[BrianB_The_Loan_Professor]

So long as you have a legitimate, documentable source for the money you should be fine.

Brian

[Anonymous]

I'm assuming the closing funds are due at closing?

jv