In this challenging appraisal market, the goal is to keep the seller concession to a minimum so as to prevent the need for a higher appraised value. In order to accomplish this task, a lender credit is the answer!
Not all lenders provide a credit. It is best to shop around and ask which lenders provide a credit.
As an example, a transaction was saved when the seller was offered $195,000 with a $5000 seller concession. The seller wished to net $192, 000. The realtor realized the need to find a lender who would provide a lender credit, thus making the seller concession requirement only $3000. The lender provided a $2000 credit and the transaction was saved. It should also be noted that the interest rate was the same in both loan offers.
The seller ended up with what they wanted and the buyer did not need to increase their offer. And the realtors were happy and we, the lender, won the loan transaction! WIN-WIN-WIN !
So, find lenders who offer credits at great rates. It's a great deal for all!