If you have a pre-approval for an FHA 203K loan, you can put 3.5% down and finance your closing costs. That would be approximately $8600. Since this is a bank owned property, being sold 'as-is', the 203K will allow you to borrow additional money to make it livable. If you do not have a pre-approval I will be happy to refer you to a mortgage broker who can answer all your mortgage questions.
