Home Buying Help - Rent Credit
Excuse my ignorance, but I'm a first time home buyer.
I am looking to buy a home that I have been renting for the last 5 years. The owner is willing to give me a rent credit of 3,500. Will this count as a downpayment, will it just come off the price of the house, how will it work?
Also, closing costs. I'm waiting for the paperwork on my loan, but the broker stated that I could only get 40% of the closing costs paid by the seller. Is this normal? I am doing 100% financing.
|
Welcome to City-Data.com forum! Make sure to register - it's free and very quick! You have to register before you can post and participate in our discussions with 700,000 other registered members. User profiles and some forums can only be seen by registered members. After you create your free account you will be able to customize many options, you will have the full access to over 15,000 posts/day about local topics and you will see fewer ads. 
Linear Mode
