VA Seller concession wording

“Seller to pay $_________ (or __% of sales price) to be used at buyers’ discretion and / or as loan product guidelines allow.”

I recommend this to my agents for all type loans.  This will allow the buyer to utilize the funds in any way they choose and will cover the below items easily:

• Closing Costs
• Discount Points
• Prepaids
• Condo Fees for up to 12 months on FHA loans
• Debt reduction / pay off on VA loans
• Home Warranty Purchase if left over funds exist
• Reimbursement of Home Inspection costs if left over funds exist (you must obtain the cancelled check and invoice).

Future Employment

US Bank Rule for Future income


Income from New Job: Allowed only on Purchase transactions of 1-unit primary residences only. Future income must be documented with a formal offer/contract from the new Employer stating all pertinent information (start date, salary, etc.) This offer must be non-contingent. It must be signed by the employer & accepted by the borrower. Borrower must start new job within 60 days of closing. Must have reserves equal to 6 months PITI of new loan. A Verbal VOE within 10 days prior to closing verifying terms of contract have not changed will be require

Mortgagee - HUD

Mortgagee - HUD

HUD/U.S.

HUD/U.S.