This document provides guidelines on seller concessions from various mortgage investors and insurers: - Some investors limit seller contributions to 6% of the sales price. - Investors and private mortgage insurers may impose more restrictive guidelines than government agencies. They may also consider some seller-paid costs to be concessions when agencies do not. - Lender-paid costs resulting from premium pricing are usually not considered part of the interested party concession limits.

1. SELLER CONCESSION GUIDELINES
*Some investors have an internal policy limiting seller contribution to 6%
*Some investors and or PMI companies may impose overlays that are more restrictive than the agency guidelines. In addition, some
investors and PMI companies may interpret certain seller paid cost to be concessions when the agency does not classify it as such. In
most cases, lender paid cost as a result of premium pricing is not considered part of the interested party concessions and limits.
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FirstCentennialMortgageCorporationisanEqualHousingLender.NMLS#132763(www.nmlsconsumeraccess.org)|877.463.2610.FirstCentennialMortgageCorp.operateswiththefollowinglicenses:
AZ#BK-0928494,CADepartmentofBusinessOversightunderCaliforniaResidentialMortgageLendingAct#4131113,CORegulatedbytheDepartmentofRealEstate,FL#MLD160,ILResidentialMortgage
Licensee#MB.0004239,IN#15064,MI#FL0011684,MN#MN-MO-40125403,WA#CL-132763,WI#43972BA. ThisisnotanofferforextensionofcreditoracommitmenttolendasdefinedbySection12
CFR1026.2RegulationZ.Interestratesandproductsaresubjecttochangeatanytimewithoutnoticeormaynotbeavailableatthetimeofloancommitmentorlock.Allloansmustsatisfycompanyunderwriting
guidelines.2471W.SullivanRoad,Aurora,IL60506.
Steve Vels
www.SteveVelsLoans.com
Senior Mortgage Banker
NMLS# 225314
630.400.0240
S.Vels@GoFCM.com
1111 N Plaza Drive, Suite 101 • Schaumburg, IL 60173
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EMAIL
FNMA
FHLMC
FHA VA
Owner Occupied
LTV/CLTV
90.01 or Greater
75.01 to 90.00
75.00 or Less
3%
6%
9%
6% Maximum
all Loans
4% Closing Costs
Points
Plus up to 4%
Sales Concession
Total: 8%
Non-Owner
Occupied
2% Maximum all
LTV’s
N/A N/A
FNMA
HomePath
Follow Standard
Maximum’s with
the exception of
LTV’s over 90%
Allow up to 6%
concessions
N/A N/A