Closing a HAP sale this week...
Working on final HUD, HAP agreed to pay 4 % towards buyers closing costs and prepaids. The actual costs are much less, will HAP allow buyer to get their EMD back at closing when HAP is already paying for the buyers closing costs?
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Permalink Reply by Wendy Rulnick on
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Jeff - Do you mean, the EMD portion exceeds what would be needed toward down payment and closing costs? I would say, YES. Since closing costs are all covered by HAP, and I am gleaning the buyer's loan does not require the EMD (must be VA or ?)
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