Payment Abatement - What is that? Another great way to sell or purchase a home!!!
Builders and Sellers can offer to pay the buyer’s interest for up to the first 6 months of the note
The builder/seller can pay out of the maximum seller contribution (seller paid closing costs) the buyers interest on their new mortgage for up to the first 6 months of the note on a primary home.
For Example:
Purchase price $180,000; 96.5% LTV; Loan amount $173,700
6% seller paid closing cost; interest rate of 5.50%
Cost of the abatement= 2.525%, leaving 3.48% out of the 6% seller contributions to cover other closing costs.
Saving the homebuyer up to $758 per month
for the first 6 months.
Call or e-mail for more information and to receive the Interest abatement calculation tool for your computer.
Elagene Trostle
Sr. Mortgage Cosultant
843-342-3900 x8 Office
843-338-9017 Cell
ET@TrostleTeam.com
www.FairwayIndependentMC.com/ElageneT
Tags: Economic, Lender, Mortgage, Rates
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