Results 51 to 56 of 56
Thread: Looking to buy a home
12-08-2012, 10:42 PM #51
12-08-2012, 11:25 PM #52Senior Member
- Join Date
- Jan 2008
- Pensacola, FL
I'm sure laws vary from state to state, but almost every new development in FL and OK advertise that the seller(the builder) pays all closing costs.
Ask to see any strange sounding law in written form.1997 MasterCraft 205
2008 Moomba Outback
1999 MasterCraft Sportstar OB
1992 MasterCraft 205
1999 Malibu Response LX
1987 Marlin Magnum Skier
12-09-2012, 11:12 AM #53
I looked a bit and it looks like that is an FHA guideline implemented after the subprime issues. Looks like if you put less than 10% down the seller can pay up to 3% of the value of the home in closing costs. If you put down more than 10% they can cover up to 6%.2011 Mobius LSV
12-09-2012, 06:02 PM #54
Is that on FHA loans only? We were going with the conventional mortgage.
Sent from my iPhone newtys droid killer using TapatalkDavid
2008 Mobius LSV, Gravity III , Wake Plate, Z5, Exile SX65c's, Exile XM9s, Exile XI12D, Exile Harpoon, Exile SM600.1 , Exile Xi800.4.
12-09-2012, 09:54 PM #55
These may help to clear it up:
2015 Supra SG
12-10-2012, 02:16 PM #56
Good stuff in those articles. Lender guidelines are not "law" but often get quoted as such.
When someone gives you the "by law" or "under the law" BS, ask them for the citation to the statute or case and go look it up. PM me if you ever need any help.My Mom said I'm not allowed to get wet!
2000 Outback LS (sold)