where can i get money for closing cost?

Question

i need help getting the money for the closing cost for my loan the bank cant roll the cost in and i dont know if the seller is willing to pay it i really dont want to lose this house. i have asked every one i know. please help

i did ask the seller if they would pay when i made the offer they said yes at first but now iam scared there going to back out

Answer 1

Counter back to the seller that you want them to pay closing. The worst that will happen is they will say no and you continue negotiating or searching for the $$$. Happy home buying!

Answer 2

Contact your local housing authority to see if you meet the criteria for assistence. The seller might help with some of the closing costs, it is a buyers market almost everywhere, but the amount that he can contribute is limited (max 3% with most 95% conventional conforming, 4% on VA & 6% on FHA) and cannot be used for the down payment part of the transaction. Hope this helps!

Answer 3

Have you been watching the Dow-Jones lately. It's in free-fall because of the real estate and mortgage markets. People are losing their homes because they can no longer afford the increased mortgage payments and obtaining loans is getting harder

If the closing costs are putting THAT much pressure on your finances, you should re-evaluate whether you can afford this house or not.

That said, it IS a buyer's market and you should put the pressure on the seller to pay the costs. I don't think he has people lined up to take your place.

Answer 4

You can't afford the house. End of discussion. If you do go through with the purchase, you will be asking about bankruptcy by Christmas.

Answer 5

You can investigate by using these links below!


Overnight Cash Advance! Up to $1500,
Apply Now!