02/28/2023
Great news for homebuyers: We’re shifting out of a seller’s market, so asking a seller to pay part of your closing costs (also called seller concessions) is once again possible. If you're buying a house, this means that: 1. Asking a seller to pay closing costs and other expenses could help lighten your loan in a buyer’s market. 2. A seller may offer to pay some of your closing costs to close the deal, reducing the amount of cash you need to purchase. 3. You can use seller concessions toward all closing costs, lender fees, discount points to buy down your rate, and appraisals. Keep in mind: It cannot be used for down payments.