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Permalink Reply by J Douglas Hall on September 1, 2011 at 10:50am

It is HUD, but you can ask the bank to submit a variance to the HUD to increase the seller assist.  If the M&T person doesn't know how, ask for the supervisor.  If that doesn't help, call the HUD Service Center...they can explain to M&T how to follow the guidelines and submit the variance.

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Permalink Reply by Jeff Payne on September 2, 2011 at 2:17am

I had the same issue before, I explained to the negotiator that USDA financing is a government program and that the financing is similar to FHA and we got it approved for 1% but I do know that you can ask for a variance for more.  All depends on your offer and the NET to the lender, if you can get them 88% NET, you should be able to get it done

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Permalink Reply by Carol Pease on September 3, 2011 at 3:46pm

1% on FHA if the short sale seller is FHA and the buyer is FHA, too!  That is on form 90045.  I've never gotten any concessions on a USDA short sale but I don't have that in writing.

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Permalink Reply by Realtor Scott on September 20, 2011 at 3:52am

Your lender can use form HUD-90041 to request a variance.  Usually the negotiator will do this for you, but i've even submitted the variance requests myself directly to Fannie/Freddie...

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