People often ask me:
What's the maximum amount a seller can contribute to the closing costs?
The answer depends on the loan program.
The chart below shows the seller contributions for conventional loans based on the down payment.
Note: The chart only applies for primary and second homes.
More seller contribution information:
Investment properties
- Seller can contribute 2% regardless of down payment amount. For more information, click here.
Federal Housing Administration (FHA) loans
- Seller can contribute 6% of the sales price or appraised value (whichever is less)
Veteran's Administration (VA) loans
- Seller contribution cannot exceed 4%. For more information, click here.
If you have any questions about closing costs and how they might impact your clients, please contact me at 757-490-4726 or srubin@tidewaterhomefunding.com.