Seller Concession

Called seller assists or seller contributions, seller concessions are closing costs that the seller agrees to pay in order to reduce the cash the buyer needs to bring to the closing table. In a buyer's market, these concessions are often granted in order to get the house sold.

Conventional

  • The limit for conventional loans depends on how much you're putting down:

  • Down payment less than 10%, the seller can contribute up to 3%.

  • Down payment 10 – 25%, the seller can contribute up to 6%.

  • Greater than 25%, the seller can contribute up to 9%.

FHA

  • Interested parties can contribute up to 6%

VA

  • Interested parties can contribute up to 4%

USDA

  • Interested parties can contribute up to 6%

NON-QA

  • Specific to program