Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 9 years ago,

User Stats

14
Posts
9
Votes
David Bridgewater
  • Property Manager
  • Chicago, IL
9
Votes |
14
Posts

What are the FHA allowable credits at the closing?

David Bridgewater
  • Property Manager
  • Chicago, IL
Posted

I know that FHA allows the seller to pay a maximum of 6 credits.

a) Is that in total with the closing cost and loan amount, or can it be applied to just the down payments on the loan?

b) Does the prorated taxes that the seller pays account for a portion of those allowable credits, or is it a totally separate obligation of the seller?

c) What exactly is the seller responsible for paying at closing and does that have anything to do with the buyers allowable credits according to FHA?

Loading replies...