How much am I really borrowing beside the hawker assist?
I am making an proposal next to a 6% dealer assit. Is this how they do the math. Let vote I proposal 95,000 beside 6% vendor assit. I filch that a 5,700seller assit minus the asking price of 92,000right? So as for the loan am I borrowing 95,000 or 86,300?
Answers:
You would be borrowing 95,000 if you are not putting money down.
Usually the 6% seller assist go towards paying your closing costs. So your purchase price is $95K and that's what you will be borrowing, unless you are putting money down on the house.
If you're not putting money down, later you are doing a 100% nouns matter.
Good luck and congrats on the spanking new place!!
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Answers:
You would be borrowing 95,000 if you are not putting money down.
Usually the 6% seller assist go towards paying your closing costs. So your purchase price is $95K and that's what you will be borrowing, unless you are putting money down on the house.
If you're not putting money down, later you are doing a 100% nouns matter.
Good luck and congrats on the spanking new place!!