Nehemiah or builder pays closing costs?
We are building a new home and qualified for the Nehemiah program, FHA loan with 3% down. I am going to sell some stock and actually put down almost 10%. In order to obtain the Nehemiah 6% closing costs I must liquidate my stock before Sept 26. If not, I can wait to see if stock value increases and the builder (KB Home) will pay 5% towards closing costs. The mortgage advisor says we should just wait because the 5% will cover all closing costs. Not sure what we should do at this point – any suggestions?