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Updated almost 5 years ago on . Most recent reply

User Stats

150
Posts
50
Votes
Clayton Hepler
  • Rental Property Investor
  • Pittsburgh, PA
50
Votes |
150
Posts

Seller's Assist at 6%, A potential for no money down loan?

Clayton Hepler
  • Rental Property Investor
  • Pittsburgh, PA
Posted

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!

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