$0 cash to close and getting money back at closing.

[Anonymous]

Is it possible to get paid at closing and bring $0 to closing with all credits (seller and lender), escrow deposit and adjustments for unpaid items from seller all applied towards closing costs and down payment?

I'm closing soon on a FHA and my realtor told me that might be the case for me.

I don't want to get myself worked up for nothing!!

Shed some light please.

[Anonymous]

If you paid for example $1,000 emd and asked for enough from every body could posibaly got it all back.  It all depends onthe loan type. We just sold a house (has not closed yet) where buyers are having to pay only $100 down and no closing costs. 

[dynamicvb]

My understanding is FHA always requires at least a 3.5% DP and I'm not sure closing costs can be financed, but I guess that depends on the appraisal value versus the selling price. There may be some method I don't know about and one of the LO's probably has more insight. if it is possible you may wind up paying higher interest rates.

[homeloanexpert]

The seller can pay up to 6% toward buyer’s closing costs, prepaids and reserves on an FHA loan which will surely cover 100% of your costs less your down payment. You will be required to come in with your own 3.5% down and any leftover seller credit can be used to cover rate buydown. Any funds not eaten up will go back to the seller unless your Agent can write up an Addendum reducing the closing cost amount and say negotiating some repair like paint, carpet, etc.

Best wishes to you!

[Anonymous]

There are FHA loans with the $100 ie almost nothing down,.  However finding a house that it  works on is like winning the lottery

We are selling one with the buyer doing this and had to confirm it as we did not believe it was still possible