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Articles by Jerry Sanders
Seller Concessions - How Much Is Too Much?
It is common for real estate professionals, mortgage loan officers, buyers and sellers to ask as to how much the seller is allowed to pay in contributions on a conventional mortgage loan in Georgia. Closing costs that are normally paid by the borrower are considered contributions if they are not paid by other parties. The seller, builder, developer, real estate agent or any other interested party to the transaction, including any affiliates, may pay these contributions.
When a Mortgage Company looks at your loan request, they are looking at three characteristics known as the Three C's of Credit. These characteristics are character, capacity and collateral.