Facing Another Price Reduction??????

By Sherry Temple Pruyn

Mortgage and Lending with Union Trust Mortgage Corp

March 19, 2007 04:57 AM

Instead of a price reduction offer a FNMA acceptable seller concession.

Maximum seller contributions based on down payments for primary residences as follows;
CLTV (Combined-loan-to-value) over 90%, maximum contribution is 3%.
CLTV > 75% to 90%, maximum contribution is 6%.
CLTV > 75% or less, maximum contribution is 9%.

Contributions can be used for closing costs and pre-paids.

Seller contributions can also assist with temporary buy-downs; 3/2/1, 2/1, and 1/0.

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Tim Maitski

Atlanta Communities Real Estate Brokerage - Atlanta, GA

Truth, Excellence and a Good Deal

Sherry, It's always good to think of different ways to make a deal work for a buyer.

Welcome to Active Rain. I hope you find value here.

Mar 19, 2007 08:46 AM

Mario Levesque

Advantage Avenue Real Estate - Wesley Chapel, FL

Tampa Realtor

Hi Sherry,

Welcome to the ActiveRain Blog network.
Shortly after I started blogging on Active Rain, I wondered how some features worked or how to do some of the things others were using in their posts.

I searched the site and could not find the "Operating Manual".

I asked some questions to other bloggers and soon realized the the power was in the network since most questions had already been answered by other users.

If you find yourself in this situation and have some questions, visit the post below and you will find tips, info and many features of ActiveRain that have been documented by other members.

Instructions, Getting Started on ActiveRain Blog community, Google Ranking, Networking info

Nice having you on board,
Mario

Tampa Realtor , Broker Associate
People's Choice Realty Services, Tampa, Florida

Mar 19, 2007 12:04 PM