- Find a Real Estate Professional
- Realtors®
- Mortgage Lenders
- Home Improvement Pros
- Other Real Estate Services
- Review an Agent, Lender or Pro
- Marketing on Zillow
- Real Estate Agent Advertising
- Join the Professional Directory
- Popular
- Real Estate Market Reports
- More
Answers (9)
- Clay Branch, "Georgia Loans"
- Contributions:7839
I wouldn't hold my breath, this post is almost 2 years old.
- James Peters, "JamesRPetersSr"
- Contributions:98
Is the owner a relative or family friend? You may be able to do a gift of equity from the seller to help with the down payment. Closing costs can also be paid by the seller. If you are looking for help please contact me on my profile page I can be of assistance.
- DaveAndersson
- Contributions:268
There may be some state sponsored down payment assistance programs available to you. Check with your state's housing authority and see if anything is offered. Seller paid down payment assistance ended in recent years.
- Just Sayin
- Contributions:5
An interested party cannot pay your down payment. You might find your back side in a bundle of trouble, ronnies girl. Just sayin!
- Manuel Prado, "Manuel Prado"
- Contributions:196
The FHA loan allows the down payment from a gift from a close relative. Not from the seller though. Gift funds must be documented that the donor has the ability to gift the funds. A bank statement would be required from the gift donor.
- Northwest Buyer
- Contributions:4
Sorry, meant to say that the lender will require that the downpayment come from the buyer's funds, of course!
- Northwest Buyer
- Contributions:4
Any lender that I am aware of will require that the downpayment come from the seller's funds -- and will also require documenting that you've had that money for a couple months prior to applying for the loan.
If the seller is willing to make the downpayment, your option is probably to adjust the sale price by the same amount. This should actually help the seller, because the agents' commissions and the excise tax will be calculated from the lower amount. For you, it may somewhat reduce the maximum available loan amount (if you need to borrow the maximum), because the lender will calculate it as a percentage of the actual sale price.
If the seller is willing to make the downpayment, your option is probably to adjust the sale price by the same amount. This should actually help the seller, because the agents' commissions and the excise tax will be calculated from the lower amount. For you, it may somewhat reduce the maximum available loan amount (if you need to borrow the maximum), because the lender will calculate it as a percentage of the actual sale price.
- Andrew Adams, "203K Specialist"
- Contributions:9349
They can't pay for the down payment!
owner will pay closeing cost and down payment
Stating a discriminatory preference in an advertisement for housing is illegal. If you think this content is discriminatory or otherwise inappropriate and feel it should be removed from Zillow, please let us know by completing the information above.
We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.