For usda loans can i still have the seller pay the closing costs?

Yes.. USDA allows the seller to contribute to the buyer sufficient funds to pay for closing costs, and USDA does not have a maximum.. However most investors will limit seller contributions to 6% of the sale price.. In most instances, this should be sufficient to pay all your closing costs. The seller is not permitted to pay down your principal balance.. Any funds for principal reduction must come from you or a gift from a family member, and it must be documented. 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. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Absolutely! The seller can pay up to 6% closing cost. If the house appraises for more than the sale price that you offered, USDA will allow the difference to go towards your closing costs. So either way, you're covered. What comes out of your pocket will be the escrow amount once the contract is approved ($500 is typical), appraisal fee of $350-$450 and a home inspection if you choose. If the loan is structured correctly, you might be able to get some of that back at closing.

Yes, USDA loans allow the seller to pay your closing costs! With that said, the seller is never really paying your closing costs. Rather, it is a poorly worded term that basically means you are rolling the closing costs into the loan, versus paying them out-of-pocket at closing. I do USDA loans in MN, WI, and SD all the time. Between zero down payment and seller paid closing costs - most people get USDA loans with less than $500 out of pocket. www.MortgagesUnlimited.biz/usda

If a USDA loan is structured correctly you can purchase a home with no money to bring at closing.

Absolutely! I would love to quote your purchase. We're extremely aggressive with costs and rates for USDA. David Ortega - Satori Mortgage - 954-900-9788 - dortega@satorimortgage.com - www.SatoriMortgage.com

Yes and depending on the lender all of them can be paid or up to 6% of the sales price can be paid. Also, if your appraisal comes in higher than your purchase price you can even roll closing costs from the purchase price to the appraised value. USDA does give a lot of unique options and is a great loan. Best wishes, Sean

Yes. The seller can pay the closing fees up to 6% of the purchase price. And your finding fees can be financed into the loan to reduce any out-of-pocket costs for you.