Tag: seller credit

Have you heard of a Seller Credit? When you purchase a home, the seller of that home may offer you a credit. Yep!  It’s true! This credit can be used to help you with closing costs or other items.  If this sounds interesting, let’s talk.  I’m happy to step you through how this works.

Have you heard of a Seller Credit? When you purchase a home, the seller of that home may offer you a credit. Yep!  It’s true! This credit can be used to help you with closing costs or other items.  If this sounds interesting, let’s talk.  I’m happy to step you through how this works.

Related Article Title: FHA Seller Credit – What Can It Be Used For? Question: We have an FHA loan where the seller credit is under the required limit.  However, the credit exceeds the actual closing costs and prepaids.  The borrower would like to use this residual to pay for the buy-out on his apartment lease.  […]

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FHA Seller Credit – What Can It Be Used For?

Question: We have an FHA loan where the seller credit is under the required limit.  However, the credit exceeds the actual closing costs and prepaids.  The borrower would like to use this residual to pay for the buy-out on his apartment lease.  Can this be done? MC Chart – Interested Party Contributions Answer: Well…that is […]

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Can a Seller Credit Be Used for Transfer Tax?

Question: I was told that if a borrower is given a 6% seller credit, the buyer and seller can agree that the transfer tax [which is typically divided evenly by both parties in my area] can be paid solely by the seller.  Is this correct? MC – Interested Party Contribution Rules – All Agency Guidance […]

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