Closing concessions w cash purchase?

[Adam Ward]

I am under contract to purchase a house @ $77,500. This will be a cash purchase and my current lender is willing to immediately refinance up to 75% of the purchase price. 75% is their max LTV. Their minimum loan amount is $60k. To meet these requirements, i am considering an initial cash purchase of $80k with $2500 in closing concessions. The house is in NC and I will be purchasing in my individual name (no entity). Are closing concessions allowed with a cash purchase? If so, is there a maximum % allowable and does this affect the refinance. My goals: Refinance as much of the original purchase price as possible Fixed rate, no balloon (term of loan is flexible) Lowest rate possible of course Any advice would be appreciated!