Can someone supply a link to where it states what Freddie's maximum allowed seller's concession or buyer's cost help is? I cannot find it anywhere. I have been told by execs at Fannie that there's is a 3% max, but no info on Freddie. Thank you!
You need to be a member of Short Sale Superstars to add comments!
**********************************
like buttons
Replies
Go to freddie's website and search for "Allregs". All of the servicing guidelines are on there.
OK. Thank you. I have always advised 3% max. I have a Realtor that I am help and she just gave me a contract that has 6% in CC help. So, I wanted to be able to show her in writing. Thanks for the comments!
Freddie allows for a 9% total of ALL closing costs, but as Bryant said I would stick with 3% or bellow for Seller Paids.
http://www.freddiemac.com/learn/pdfs/service/shortpayoff.pdf
I've had Freddie pay 3% on numerous occasions. Most lenders/investor will allow 3% with no issues. I have had 6% approved but that was several years ago. My sellers won't accept offers requesting more than 3%.
You can find Freddie guidelines on the FreddieMac group on this site. http://shortsalesuperstars.com/group/freddiemac