Saving money on closing costs on your next mortgage!

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In this conversation, Clark Alexander and Gary Pierce discuss the concept of seller credits and how they can be utilized to reduce the overall cost of a home over the lifetime of a mortgage loan. They explore the advantages of asking for seller credits instead of simply negotiating a lower purchase price, emphasizing the long-term financial benefits. The discussion also covers negotiation strategies for buyers, the importance of working closely with loan officers, and the psychological aspects of buyer-seller negotiations.

Seller Credits:
🚀Conventional:
3% WITH 10% DOWN PAYMENT
6% WITH 10.1-25% DOWN PAYMENT
9% WITH 25.1% + DOWN PAYMENT
🚀FHA:
6% on all loans
🚀VA
4% on all loans

How to determine seller credits example:

Conventional loan $500,000 Purchase price and 10% downpayment ($50,000) = Loan amount of $450,000, the max seller credit is 3% or equivalent to $13,500.

Chapters
00:00 Understanding Seller Credits
04:54 Negotiating Seller Credits Effectively
10:40 Final Thoughts on Seller Credits
12:49 Pure Funding

Pure Funding LLC | NMLS 2371647 | www.mypurefunding.com | http://www.nmlsconsumeraccess.org | 1216 S Main St, Weatherford, TX 76086 | 817-776-4948 | Not affiliated with any government agency. All Loans are subject to underwriting approval. Terms and Conditions apply. Some loan products may not be available in all states. Subject to change without notice. Pure Funding is licensed in TX, OK, TN, CA, ID.