Using Seller Paid Closing Costs To Purchase A Home

It's a great time to take advantage of the current low mortgage rates and low real estate prices to become a homeowner. Low money down mortgage programs can help buyers avoid having to come up with a large down payment, but there is another way to keep up front costs low - utilize seller paid closing costs.

Often, homeowners listing their home for sale will agree to pay a portion of the buyer's closing costs, generally up to a set percentage of the purchase price. Closing costs can include paying for an appraisal, home inspection, fees to the mortgage company, a title search, title insurance, fees to the escrow agent or attorney, and more. They can easily amount to three to six percent of the mortgage amount.

Learn more about this option in "Understanding Seller Paid Closing Costs", an article on ForTheBestRate.com.