Asked by C, Maryland • Sat Jun 14, 2008
We are looking to buy and would like to have a mortgage rate buydown paid for by the seller as part of closing costs - we feel this would give us good negoiating power instead of just lowballing on the price. I'm wondering if there is a maximum that you can actually buy down the rate (2%, 3%, none - whatever they are willing to pay?). Particularly for a VA loan - as my husband is a vet and we will most likely use this to get a mortgage. Any advice is appreciated - thank you!
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