Minimum Down Payment & Maximum Seller’s Assist Series 2 of 5
Friday, 06 May 2011
CONFORMING CONVENTIONAL LOANS: Conforming loans are loans underwritten to meet guidelines of Fannie Mae and/or Freddie Mac, whom provide an implicit form of government guarantee. On conforming loans, it is Fannie and Freddie who dictate the requirements for minimum down payment, allowable sources of buyer down payment, and maximum seller assist limits. Standard conforming limit
- Published in Home Buyers
Minimum Down Payment & Maximum Seller’s Assist Information Series 1 of 5
Thursday, 05 May 2011
General Information about Seller’s Assist Seller Assist (aka Seller Credit) is payment by seller or builder of settlement costs that are normally paid by the buyer. Any closing costs that are normally paid by the borrower are considered contributions if they are not paid by the borrower. Contributions toward any of the following are included
- Published in Home Buyers