2006-06-21 05:42:56 · 4 answers · asked by annie_4ever 3 in Business & Finance ➔ Renting & Real Estate
Most banks will typically allow the seller to credit you 3-6% of the purchase price toward closing costs. Some banks will even allow you to walk away with money after closing. The way it usually works is that when you make your offer you ask the seller to credit you X amount of dollars.
Sometimes buyers will add what is needed back into the purchase price. For example, let's say you are willing to pay $100,000 for a home listed at $105,000 but need $1,000 for closing costs. What you would do is make your offer at $101,000 and have the seller credit you $1,000 at closing.
Some sellers and listing agents don't like to work with 100% financing, but a good mortgage professional can make them see otherwise. Please feel free to contact me if there is anything you need.
2006-06-21 07:00:52 · answer #1 · answered by kevingeorgecampbell 2 · 1⤊ 0⤋
Yes but many people wouldn't see to you if you had 100% financing because their is no guarantee that the bank will accept your financing and then they will be screwed. If you have any down payment then take away from that to use for your closing costs so you at least have that.
2006-06-21 12:47:46 · answer #2 · answered by BeachBABE 4 · 0⤊ 0⤋
Yes you can becasue I bought my first home last Sept. in CA.
2006-06-21 13:20:57 · answer #3 · answered by Simply Lovely 6 · 0⤊ 0⤋
I don;t believe you can on a first mortgage..if it is a refinance then yes...
2006-06-21 12:46:50 · answer #4 · answered by DRD 3 · 0⤊ 0⤋