Written By: Delores Weaver
Are your borrowers/buyers lacking funds to close the loan? Did you know that borrowers can receive “concessions” from the seller to help with the purchase of their home. FHA will allow up to 6% of the sales price while conventional lenders permit 3% for seller concessions. This is an essential part of closing your deal and makes the home sale flow smoothly to closing.
Opinion-Editorial (Op-Ed) Disclaimer For NAMP® Library Articles:
The views and opinions expressed in the NAMP® Library articles are those of the authors and do not necessarily reflect any official NAMP® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMP®. Nothing contained in this article should be considered legal advice.