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Sellers Concession

A sellers concession helps a borrower to pay some or all of their closing costs. The realtor writes a seller concession into the purchase agreement usually before placing a bid on a property. Anywhere from three to six percent (this is a percentage of the purchase price) is a typical seller concession. This is helpful for borrowers who do not have the necessary amount of money to pay for closing costs and for borrowers who would rather hold onto their money instead of tying it up into their mortgage.

If you have little or no cash to purchase your home, seller concessions are a great way to get into a home with little or no money out of pocket.

 Mortgage Rates NY will be happy to advise you on what loan type and program is right for you. 

Call Mortgage Rates NY today, at (888) 996-9529.