Popular Properties

LEARN HOW THE SELLER CAN HELP PAY YOUR CLOSING COSTS!

 

Looking to buy a home but don't know how to come up with the money to do so?  Don't worry, we have you covered! 

Based on FHA and Conventional Loan Rules, the seller can help pay a portion of your closing costs in order to help you buy the home(called Seller Concessions).  Seller Concessions are based on a % of the purchase price.  

FHA Maximum with 3.5% Down Payment - 6% 

Conventional Maximum w/5% Down Payment - 3% 

Conventional Maximum w/10% Down Payment - 6%

For example...  If you are using a FHA loan to purchase a house for $100,000, the seller could give back to you 6% or $6,000 towards your closing costs!  If you are using a Conventional Loan with 5% down, the seller could give back to you $3,000 towards closing costs.  With 10% down Conventional it would be $6,000!  

In most cases, Seller Concessions can be use in conjunction with Grant Programs like HomeHeadQuarters, who offer $3,000 closing costs assistance!  

Using these programs you can practically get you into a home with very little money out of pocket and pay a monthly mortgage payment much less than today's Rent.  Plus, you can write off the interest and taxes on your yearly income taxes for even more advantages you won't find when renting.  

If you would like to learn more, please contact us today at 315-752-9513 or Email Us Here

Popular Property Search

Start Your Search

©2019 Global Multiple Listing Service, Inc. The data relating to real estate on this website comes in part from the Internet Data Exchange program of the GMLS. All information is deemed reliable but not guaranteed and should be independently verified. All properties subject to prior sale, change, or withdrawal. Neither listing broker(s), GMLS shall be responsible for any typographical errors, misinformation, or misprints, and shall be held totally harmless from any damages arising from reliance upon these data. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties they may be interested in purchasing. Data last updated