Seller Paid Closing Cost

What is a Seller Credit?

Seller credit is when the seller of the property you are purchasing agrees to use some of their sale proceeds to help you, the buyer, pay for your closing cost.

Some closing cost are split between the buyer and seller, so a seller credit would be going above and beyond paying their own costs, and the shared costs.

There are limits on how much a seller can credit the buyer. These limits depend on the loan program and down payment amount - check out the PDF for specific details.

In all cases, the buyer must meet their "minimum required investment" which means, the buyer is responsible for their down payment. There are multiple sources their downpayment can come from (see down payment options) , but it cannot be a seller credit. A seller credit can cover prepaids, points, and closing cost but NOT the down payment.

In some case, asking for a seller credit instead of reducing the purchasing price, can actually help the buyer more! Depending on what we do with the seller credit we can significantly reduce your cash to close or even monthly payment!

Have questions? Let's connect!

[email protected]


Share

Reviews

"For various reasons beyond Becky's control, my load application was denied twice. But Becky never gave up. She kept giving me options to make sure I had a chance of getting the place I wanted. She also did a great job of making a complicated process easier to understand."

michael s b

"Becky helped make this deal happen, despite my complicated financial situation and a very difficult seller. I honestly feel like I couldn't have done it without her!"

laura w

"Becky went out of her way to communicate with lenders on issues related to the loan. Most agents would not make the efforts she did for our loan. She was patient in times when needed. Overall very good understanding of customers and lenders issues. She orchestrates the deal as sometimes it takes someone to do so."

brian b

"Clear communication"

kenneth t

"There was regular and thorough information. Everyone was kind and patient."

erica w

"Super easy process, quick to respond"

jamie t

"quick & professional handling of loan application and processes"

richard u

"Responsive to questions"

elizabeth u

"We cannot thank Becky, Hannah, and the rest of their team enough for how wonderful they were to us through the entire process!! Hands down the kindest, most professional group out there!! We will definitely be referring them to everyone!!😊"

colette d