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Updated almost 10 years ago,
Lender putting a Cap on Seller's Contribution
I'm closing on the 30th on another SFH and was reading over some documents today and noticed that my lender (30yr 4%) says the maximum contribution at closing from the seller is 2% of PP or in this case $2700. I'm pretty upset because I negotiated the seller to pay all the closing costs, up to $4600. Closing costs are estimated at $4500.
Has anybody seen this before? I told the lender how unhappy I was about this. They're working on a resolution. Why would a lender care who's paying closing costs?
Zach