Does anybody know anything about a possible 6% closing cost credit on FHA loans. If anybody does can you
possibly explain it in the simplest terms. Thank you.
Answers (2)
The 6% closing credit is taken from the sellers proceeds and is used for you Closing costs, Prepaids and discounts. FHA Direct Lender tkeaton@lendamerica.com
FIRST ANSWER
The seller can give you a 6% credit towards closing costs and Pre paids. This is allowed on FHA loans. Please contact me with any futher questions.
Maria A. Cranston
Loan Originator
THE National Bank
5210 Jersey Ridge Road
Davenport, IA 52807
563-823-3421 (office)
563-579-4832 (cell)
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