Question Details

Shin, Home Buyer in Fremont, CA

Is it true that a builder can not provide more than 6% of the purchase price in upgrades and buy downs?

Asked by Shin, Fremont, CA Wed May 7, 2008

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Answers

1
If these upgrades and buy downs are listed as seller concessions then the answer is yes; they are limited to 6% with some loan products. For most conforming loan products, the limit is 3%. Check with your loan officer. They will be able to match products with the maximum concessions.

Good Luck!

Trey Bowden
(405) 340-3277
0 votes Thank Flag Link Thu May 8, 2008
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