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Updated over 8 years ago,

User Stats

469
Posts
32
Votes
Benjamin Cowles
  • Cape Coral, FL
32
Votes |
469
Posts

A couple questions about FHA and seller concessions and rent cred

Benjamin Cowles
  • Cape Coral, FL
Posted

So let me get this straight, FHA will only consider so much of

1) seller concessions part of your up front costs with their loans because they want to provide financial assistance towards mainly the purchase price of the home(?) and

2) rent credits towards your down payment because they want to make sure you’re not engaging too much with the seller in a seller financed agreement as part of the SAFE act?

Hopefully I've just answered my own questions but mind you it's taken me like a couple years to formulate these concepts as I've done my best here to explain them lol. I was in special ed classes as a kid for comprehension mostly btw. I'm sure I've read a good few chapters on these topics but as with a lot in REI it takes me a while to get just the jist of them. Am I at least pretty close so far? Thanks