It all depends on how much your lender will allow. I've seen FHA lenders allow as high as 6%. Also, it doesn't matter whether it is a builder or a resale home. It's all on how you negotiate the deal. One of my companies primary focus is new construction negotiations. We are also giving special incentives for our new clients on any new contruction deal. You can browse our database of new construction builders here: http://www.houstonicon.com/New
Also, you can view information about the new client incentive here: http://www.houstonicon.com/Buy/New-Homes-cash-back.aspx
It is simple and easy to qualify for our new client incentive. Weâ€™ll help you to save thousands on your new home purchase, then weâ€™ll give you another gift at closing.
I also wanted to add that our new home search is specific to the Houston area only as it is important to have have someone local to represent you to ensure you are getting the best price for your new home. Our search can be sorted via school district, price range, area, etc. Check it out we would love some feedback if you have any. http://www.houstonicon.com/New
Nikki, I'd love a cance to earn your business. Please feel free to call me at 832-622-8100 or email me at email@example.com
Legally or realistically?
Answering as an experienced builder and seller I can tell you that there are many ways for a builder to help you out with closing costs. Consult them and your attorney to see what works for everyone involved.
All the best,
6% on FHA
Your loan officer should be able to show you your options. If you aren't pre-approved, you need to be.
Are you able to provide a few details? What is the cost of your home? Do you have a written agreement with the builder to assist with your closing costs.
I would recommend having someone negogiate on your behalf, everything is negogitable!
Mattye P. Smith