Lenders Allow 6% Contributions
Monday, January 29, 2007
Recent changes in 100% financing guidelines have given buyers more buying power.
The 80/20 and 75/25 Conforming Fixed-Rate loans now allow interested party (seller)contributions up to 6% of the sales price or appraised value, whichever is less. Previously, contributions were capped at 3 percent.
Contact us if you would like more inforamtion on how this change effects your buying power.
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