What can seller credits be applied towards?

Closing costs and prepaid items (escrow deposit, interest, insurance...). It can't be applied to the down payment.

As stated, closing costs and prepaid items.

Be aware that occasionally if the seller is a bank they will limit acceptable closing costs. Specifically Origination fees, Discount points or Rate Extension fees. I suggest you talk to your Realtor to call these out on the Purchase agreement if they are present.

All three answers are accurate. It is important that you, your realtor, communicate with your lender to make sure that you proceed in a manner where you don't lose any of the seller credit negotiated due to program, or seller restrictions. So, please make sure that you speak with an experienced lender who will communicate with you and your realtor regarding these specifics as well as lay out various options and intelligently discuss the pros and cons of each with you. I'm happy to help with the financing or just give you advice. If you need more information, or a competing rate quote call, email or use my live support button to discuss or get in touch with me. Web Address for live chat or quote is: http://www.loansfromrob.com/quote/ Email is robertlh66@verizon.net and direct phone is 240-752-7549. Good Luck -- Rob Hanson