when closing costs are less than seller agreed to pay: WHEN CLOSING COSTS ARE LESS THAN SELLER AGREED TO PAY
- 01/10/19 10:00 AM
WHEN CLOSING COSTS ARE LESS THAN SELLER AGREED TO PAY
Before shopping for a home most home buyers will take into account their funds for down payment, closing costs and other out of pocket expenses. Depending upon the loan program these figures can vary. Mortgage loan programs each have defined minimum down payment requirements and maximum seller contributions. What follows is a discussion about what happens when closing costs are less than negotiated for the seller to pay.
For a FHA mortgage loan the seller can contribute up to 6% of the sale price. Other programs cap the contribution at 3% or 4% depending on … (0 comments)
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WHEN CLOSING COSTS ARE LESS THAN SELLER AGREED TO PAY
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