SELLER CONCESSION LIMITS

Wednesday, February 13, 2013

Did you know that the seller sales concessions can exceed 4 percent on VA loans?
In fact, by knowing what VA really allows may help you save more deals for your VA buyers.

Reference the chart below for Fannie/Freddie/FHA/VA/USDA

Some lenders/investors and or PMI companies may impose overlays that are more restrictive then the agency guidelines.  In addition, some investors and PMI companies may interpret certain seller paid cost to be concessions when the agency does not classify it as such. 

So be sure you refer your buyers to the mortgage experts at The Covenant Team of Service First Mortgage, Lending that has you covered.

 

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