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#1 EQUITY NOTES

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Posted 14 July 2010 - 01:37 PM

Hi All

when fha is used and we are allowed a 6% seller concession with the rent credits, it that 6% of the home price or 6% of the monthly rent?

I did copy pilots topic but this was a question i had, hope iam not sounding stupid


Thanks,
Tom

#2 mwds120

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Posted 05 July 2012 - 01:02 PM

I think the 6% seller concession you're thinking about is supposed to be a seller concession for 6% of the contract price.

#3 pilot76180

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Posted 08 July 2012 - 09:36 AM

FHA allows 6% of the sales price for a seller concession.
Unless there are some exceptions, conv. is maxed at 3% now.
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