Discover how much a seller can contribute toward your closing costs - and how much cash you can keep in your pocket at closing.
Down payment: $20,000 · Loan: $380,000
With 5% down → Primary / Second Home — <10% down
Max: 3% ($12,000)
For example if you want a Conventional loan and plan to put 5% down, a 3% seller concession saves you $10,950 in cash at closing.
Note: Closing costs will vary based on lender, location and transaction type. Each loan program has its own limits on seller concessions, and they can never exceed the actual costs. They also cannot be applied toward your down payment. Always double-check the exact numbers with your loan officers
We guide you on how to structure your offer the right - what to ask for, how to position it, and which closing costs make the biggest impact. Getting pre-approved first puts you in a much stronger position when negotiating
Seller concessions can reduce the amount you need upfront by thousands, giving you more flexibility when you move in
The seller concessions can also be applied toward discount points, which can lower your monthly payment over time.
When done right, a pre-approved buyer who is well prepared and asks for concessions the right away can come accross stronger than even a cash strapped one
Conventional, FHA, VA, and USDA all allow seller concessions - each with their own limits and guidelines
Choose the right setup and make sure you are maximizing whats available to you
3-9% concessions
Up to 6% seller paid
All closing + 4% extra
Up to 6% seller paid
If you are unsure how to approach this, our team works through these scenarios daily and can help you structure it the right way