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Updated over 4 years ago,
Seller's Assist at 6%, A potential for no money down loan?
If I buy a Duplex property and use an FHA to finance the property, could a 6% seller's assist basically give me a no money down situation?
Example: 350K Duplex and Garage and seller is very motivated.
Down Payment at 3.5%: 12,250.00
Closing Costs at 5%: 17,500 / 2 = 8750 (Our closing costs at 2.5%)
12,250 + 8750 = 21,000
6% of 350,000 = 21,000
I'm looking for Brandon Turner on this one!