Are seller concessions allowed on all types of loans?

Yes.. FHA allows up to 6%, USDA is unlimited, VA allows up to 4%, conventional owner occupied and 2nd homes allows for 3% if LTV is 90% or higher, 6% if LTV is over 75%, and 9% if LTV is 75% or less.. if your purchasing Investment properties using conventional, the maximum contribution is 2% regardless of LTV.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

See Charlies reply, it is very accurate to what to do

All of ours. Conventional 3%, FHA and HUD 184k 6%, VA 3%.

I can not think of a single purchase product that does not allow some type of concessions

Yes. FHA, 184 (when it becomes available again) 6% of the purchase price, VA 4%, and Conventional 3%. I am here in Tulsa, feel free to call me with any questions 918-394-5626.

They are allowed on all types of loans depending on the loan to value, loan type and occupancy type. Keep in mind that the concession can never oer the own pyment and can onl be used for the closing costs and pre-paid items needed to establish the escrow accout. If you have questiosn try my cell at 781 771-9976.. Best of luck.. Kevin

Yes. Ask your seller to pay "all of the allowable buyer's closing costs, both recurring and non-recurring".

Good info from the others that have replied. One tip... if for example a seller agrees to pay the max 6% seller concessions on a FHA purchase and your closing costs only amount to 3%, instead of giving up the other 3% use it towards points to buy down the interest rate. As kmcgoff stated, the concession can't be applied towards down payment so the only way to take advantage of the entire 6% would be to increase the closing costs with discount points, giving you a lower rate for the life of the loan.

Yes... but it varies based on the loan program, so be sure to check with your lender for the exact program you are using to purchase your home. www.StPaul-Mortgage.com

Yes. 6% FHA, 4%Va, 3% conventional <10% down, 6% conventional if you put >10% down.

Seller concessions are NOT allowed on reverse mortgage for purchase loans.Email me with any questions: askflorian@gmail.comThank you

Seller concessions are NOT allowed on reverse mortgage for purchase loans.Please email me with any questions: askflorian@gmail.comThank you

yes