Home Buying in 75002>Question Details

jessckay, Home Buyer in Allen, TX

we rare buying a house for 170,000 fha loan the seller is paying 6,000 in consessions what exactly is that

Asked by jessckay, Allen, TX Wed Apr 17, 2013

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6
you want your agent or loan officer to go over this with or preferably both.
0 votes Thank Flag Link Thu Apr 18, 2013
Bruce Lynn, Real Estate Pro in Coppell, TX
MVP'08
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Your Realtor or Mortgage broker should be assisting you with all these questions. You both of closing costs (buyer / seller) reduction of the money you would be required to pay to title company , any additional funds be applied towards other expenses.



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0 votes Thank Flag Link Wed Apr 17, 2013
Like others have said below that means the seller is paying your closing cost, which is great.

Congratulations on your new home!

Susie Kay, Realtor®
GRI, CHMS, SFR
Residential/Commercial/Investment
English-Indonesian-Hokkien
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United Real Estate
III Lincoln Centre, 5430 LBJ Freeway #280
Dallas, TX 78240
469-371-2899
susie_k@att.net
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Servicing your real estate need is my priority!
0 votes Thank Flag Link Wed Apr 17, 2013
Like others have said below that means the seller is paying your closing cost, which is great.

Congratulations on your new home!

Susie Kay, Realtor®
GRI, CHMS, SFR
Residential/Commercial/Investment
English-Indonesian-Hokkien
------------------------------------------------------------------
United Real Estate
III Lincoln Centre, 5430 LBJ Freeway #280
Dallas, TX 78240
469-371-2899
susie_k@att.net
http://www.dfwdreamhomes.net

Servicing your real estate need is my priority!
0 votes Thank Flag Link Wed Apr 17, 2013
Hello,

"Consessions" means the seller is paying part of your closing costs.

$6,000 is VERY generours in today's market.

Congrats on your new home, and much happiness to you!!!

Kawain Payne, Realtor
0 votes Thank Flag Link Wed Apr 17, 2013
Seller is paying $6000 towards your closing costs and prepaid items(taxes and insurance paid in advance)

This should pretty much cover those costs/prepaids.... So the 3.5% down payment will be your only 'out of pocket' expense.



Tom Burris
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0 votes Thank Flag Link Wed Apr 17, 2013
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