Utah Rates, Programs, Purchases or Refinaning by Utah's Mortgage Guy

Fannie/Freddie/FHA/VA/USDA

Maximum Seller Contribution Chart

 

With all the mortgage rules changes, I know it’s difficult to keep updated on exactly how much money a seller can contribute to helping a client buy a home.  Here’s a handy chart that covers all the loan programs and the percentage the seller can pay.

 

 

FNMA

FHLMC

FHA

VA

USDA

Owner Occupied

LTV/CLTV

 

90.01 or greater

75.01 to 90.00

75.00 or less

 

 

 

 

3%

6%

9%

6%

Maximum all loans

4%

Closing cost & points

 

Plus up to 4% sales concession

 

Total: 8%

 

 

No Seller Contribution Limit*

 

Closing cost can also be financed up to 100% of appraised value.

Non-Owner Occupied

2% Maximum all LTV’s

N/A

N/A

N/A

FNMA

Homepath

Follow standard maximum’s with the exception of LTV’s over 90% allow up to 6% concessions

N/A

N/A

N/A

          *Some investors have an internal policy limiting seller contribution to 6%

Posted by Kelly L Whytock on May 30th, 2011 12:55 PMPost a Comment (0)

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