April 13th, 2012 9:34 AM by Anne James
Did You Know?
Seller Credits Allowed by Loan Type
Conventional Loan
Occupancy
LTV
Allowable Credit
Primary Residence / 2nd Home
Conforming Loan Amount
90.01% - 95.00%
3%
75.01% - 90.00%
6%*
75% or less
9%*
All LTV / CLTV
Investment
2%
Seller Credits can be applied to all closing costs and/or prepaid items not to exceed the actual amount of the closing costs.
*Conforming Hi Balance is restricted to 3% seller credit at ALL LTVs.
FHA Loan
Primary Residence
All LTVs
6%
VA Loan
4% not including unallowable fees
Seller Credits can be applied to all closing costs and/or prepaid items not to exceed the actual amount of the closing costs. Borrower may receive funds back equal to or less than any amount deposited into escrow for the earnest money.
This "Did You Know" was brought to you by your
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Anne James| 562 320-0510