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What is the max seller contributions in fha 2014?

by jonathandrew416 from Spokane, Washington. May 23rd 2014 Reply


Paul Benezra (PaulBenezra)
#50 ranked lender in Washington - 66 contributions

Hi Jonathan,At present time, seller concessions are still limited to a total of six percent. We will report any changes to the six percent limit as they become known, but for now the six percent seller contribution limit is the official rule. This six percent limit does not change based on the price of the home or other factors.Feel free to call or email me with any other questionsSincerely,Paul BenezraPresident / Designated BrokerPaul@cascade-equity.comPaul.F.Benezra@gmail.comEastside Commons BuildingCascade Equity Group, Inc.15405 SE 37th St. - Suite 100Bellevue, WA 98006Phone: 425-272-2723Fax: 425-728-8429License MB-378991 MLO-117023

May 23rd 2014
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Michelle Curtis Loan Originator NMLS 401173 (EmbassyFundingLLC)
#77 ranked lender in Florida - 2,240 contributions

6%

May 23rd 2014
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Dave Skow (daveskow)
#16 ranked lender in Washington - 281 contributions

5/23/2014Jonathan - thanks for the question ....Seller and all third party contributions such as from realtor : maximum 6%.6% is toward buyer's actual closing cost, prepaids, discount points and otherfinancing concessions. Fees routinely and typically paid by the seller under localor state law are not included.....HOA fees can be paid 12 months in advance as a part of the seller contribution.If trying to minimize cash to close - inquire about the down payment assistance Grant we have to offer for eligible buyers as this can help cover part of a buyers 3.5% down payment Dave Skow - Eagle - daveskow@eaglehm.com

May 23rd 2014
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Mike Silkworth (msilkw_195_870)
#31 ranked lender in Michigan - 527 contributions

FHA, USDA Rural Development, Fannie Mae Homepath and Conventional with 20% down are 6% of sales price. Conventional (less than 20% down) are 3% of sales price. VA is more complicated and aren't a strict percentage, but is safe to say that VA is flexible enough to cover what ever closing costs and pre-paids expenses you will have in a home purchase.

May 25th 2014
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Dave Skow (daveskow)
#16 ranked lender in Washington - 281 contributions

Jonathan - hi there ....do you still need any assistance ? Dave SKow

Oct 28th 2014
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