Closing costs covered limited to 2%?

[Craig Sweeney]

Hello all. I was just told by a lender that I am using (Keller Williams) that seller concessions (closing costs) can be no more than 2% of the loan since it is a rental property. Has anyone heard of that before? I had negotiated $4000 towards closing which would have covered the vast majority of this. Just checking to see if anyone had heard of this before. Thanks.