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Consider factors such as how long you plan to be in the area, if you have steady employment, and if you have enough money saved for not just the down payment, but for closingcosts , maintenance, property taxes, and more. Loans are between 3%-3.5% The program also has restrictions on the type of home and its location.
When a financed buyer offers to cover any appraisal gap, they are putting up additional money for the down payment and closingcosts. I was working with a client who only had $30,000 total for down payment and closingcosts. Pay the Seller’s ClosingCosts. No-costRent-back.
Or that FHAloan limits vary widely, too? Buyers who are moving from one area of the country to another could be shocked at the difference in prices and loan limits. They’ll know whether offering a rent-back period could sweeten the deal, or if it’s more common to pay seller closingcosts.
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