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ZoolanderMSM
188 Posts |
 Posted - 05/12/2008 : 2:34:09 PM
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I had a co-worker contact me today regarding a competitive sitution. He is a being told that another lender is allowing a 9% seller contribution on an FHA loan. They are also claiming that the 9% seller contribution can be done with VA as well. Has anyone heard of this? Are there lenders with a specific Jennie contact that allows this? I know Webster used to do it, but they are no more.
TIA,
Matt |
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ZoolanderMSM
188 Posts |
Posted - 05/12/2008 : 2:44:59 PM
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quote:
Originally posted by Banker0679
DPA included?
Yes, the DPA (3%) is part of the 9% total allowed. |
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Clr2close
305 Posts |
Posted - 05/12/2008 : 2:47:32 PM
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the 9 percent is broken down into 6 percent sellers concession and 3 down payment assistance and fyi you can actually get 12 percent total 6 percent sellers concession 6 percent down payment assistance
DAMON LAYLOCK
SR. ACCOUNT EXECUTIVE
IDEAL MTG. BANKERS
OFFICE 631-944-4555 EXT. 2125
DIRECT LINE 631-944-4016
CELL 718-749-2112
FAX 631-944-4977
IDEALMB.COM
DLAYLOCK@IDEALMB.COM |
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ZoolanderMSM
188 Posts |
Posted - 05/12/2008 : 3:08:23 PM
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Damon,
Are you able to lend on this through Ideal?
quote:
Originally posted by Clr2close
the 9 percent is broken down into 6 percent sellers concession and 3 down payment assistance and fyi you can actually get 12 percent total 6 percent sellers concession 6 percent down payment assistance
DAMON LAYLOCK
SR. ACCOUNT EXECUTIVE
IDEAL MTG. BANKERS
OFFICE 631-944-4555 EXT. 2125
DIRECT LINE 631-944-4016
CELL 718-749-2112
FAX 631-944-4977
IDEALMB.COM
DLAYLOCK@IDEALMB.COM
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Clr2close
305 Posts |
Posted - 05/12/2008 : 3:09:27 PM
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| Yes we can Underwrite the loan email me to discuss further |
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