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FHA Guideline On Seller Paid Closing Costs
A great post about what can or cannot be included in FHA seller paid closing costs for the buyer. I slightly dis agree with the authors commetn that the closing costs are added back to the price.  In our area an din todays market the seller should expect to pay at least some closing costs as a part of the sale.
These days many of the FHA Borrowers that I work with require Sellers to pay most of their Closing Costs, so I need to be on top of what the FHA Guideline On Seller Paid Closing Costs are. The FHA Guideline On Seller Paid Closing Costs are very specific, but could cause some last minute surprises if not explained correctly, and understood by the Borrower.
FHA does not require that a Buyer put any of his or her own money towards Downpayment and/or Closing Cost.  All of the money for Downpayment and Closing Costs can come from an acceptable gift source such as a:
Family member Employer Non Profit State Bonded Program like CHFA in Connecticut FHA will not allow a Seller to contribute ANY money towards Downpayment, but they will allow the Seller to contribute up to 6% of the ... more

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