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For Mortgage Terms From A-Z
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Sellers Concession
Sellers concession is defined as the seller agreeing to pay any of the buyer’s closing costs and/or prepaid items. The maximum amount allowed on conventional loans is based on loan to value.
- 1-4 unit up to 100% CLTV owner occupied, varies, up to 6%
- 1-2 units up to 100% CLTV non-owner occupied, varies, up to 6%
- 3-4 units at 100% CLTV non-owner occupied up to 2%
- 3-4 unit at 100% CLTV non-owner occupied, varies, up to 6%
- Applies only to a purchase.
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