Newsflash: Do buyers have to match seller closing contributions?

We are building a home and KB Home (the seller) is contributing enough to cover closing costs.We are two weeks out from closing on a home, and our lender just told us they found a federal requirement that says we (the buyers) must match the contribution from the seller.This has nearly tripled the good faith loan estimate that they gave us.Is this a real requirement, or are they just jerking us around now?



Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s