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Seller concessions are at near-record highs in today's buyer's market, so there's a good chance you can negotiate some credits or other help from your lender if you're buying a home.
Just be aware that all major loan programs limit concessions to a small share of the purchase price. It's important to know the limits because if you ask for a higher amount, your lender will reduce your concessions at closing, and you'll get less than you expected.
Becoming familiar with the seller concession limits for your loan program before talking with the seller puts you in a stronger negotiating position.
Loan type
#limits #disclosure #becoming
Seller concessions are at near-record highs in today's buyer's market, so there's a good chance you can negotiate some credits or other help from your lender if you're buying a home.
Just be aware that all major loan programs limit concessions to a small share of the purchase price. It's important to know the limits because if you ask for a higher amount, your lender will reduce your concessions at closing, and you'll get less than you expected.
Becoming familiar with the seller concession limits for your loan program before talking with the seller puts you in a stronger negotiating position.
Loan type
#limits #disclosure #becoming
26 days ago
