A friend of mine had called asking a question about what the maximum seller contribution limit was for an FHA loan. I knew I had heard about it… I knew it had changed sometime fairly recently but things are changing so fast that I didn’t know for sure. It was Sunday morning and not urgent for me so I didn’t want to call my lender.
I just can’t let a question go unanswered so I googled to find out. The answer is 6% but there are a lot of exceptions. Here is a pretty good article on it.
FHA Seller Contributions by Peter G. Miller
More questions? Just ask.