How To Have Seller Paid Closing Costs

Structure Financing so you have less out of pocket expense.

This is very common in the real estate world. Quite often on let's say an FHA purchase the customer has limited funds but still wants to buy the house.

In my example the customer has $12,000 to buy the house but normal closing costs put his cash to close figure around $15,000. By structuring the financing and offering the seller $5000 more but having the seller pay $5000 of his closing costs, the payment adjusts slightely but we can get the buyer into the home.

FHA allows us to do this up to 6% of the purchase price of the home and Fannie Mae/ Freddie Mac allow 3%. One important thing to remember is we cannot "bump" the price too much because the home might not appraise.

Please see PDF:goodfaithestimatewithsellerpayingclosingcosts.pdf

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