For How Much Seller's Assist Can I Ask?

For How Much Seller's Assist Can I Ask?

Seller's assistance is often requested as a percentage of the purchase price.  The amount of the seller assist is dependent on a few factors: your Loan Program, Down Payment and whether it is your Primary Residence.  In our case we are speaking about purchasing a primary residence, not a second home or investment.

-For FHA, a seller can contribute up to 6% of the sales price in most instances

-For Conventional loans, it depends on the amount of down payment; with less than 10% down, a seller can contribute up to 3% of the sales price toward closing costs.  With 10+% down, a seller can contribute up to 6%, and with 25%+ down payment, a seller can contribute up to 9%

-VA loans allow up to 4% seller's assist

-USDA loans buyers can also finance closing costs up to 100%

For How Much Seller's Assist Can I Ask?