Finance
A seller concession (seller-paid closing costs) in Georgia affects the buyer's:
ADown payment requirement
BOut-of-pocket funds needed at closing (reducing them)✓ Correct
CCredit score calculation
DLoan interest rate
Explanation
Seller concessions are credits from the seller toward the buyer's closing costs, reducing the amount the buyer needs to bring to closing. Lenders have limits on allowable concessions by loan type.
Related Georgia Finance Questions
- The period between default and foreclosure sale in a Georgia non-judicial foreclosure is primarily determined by:
- A Georgia USDA Rural Development loan is designed for:
- A construction loan is typically converted to a permanent mortgage:
- Under Regulation Z (TILA), a right of rescission gives borrowers in a refinance transaction how many business days to cancel?
- A wraparound mortgage is one where:
- The secondary mortgage market allows lenders to:
- An interest rate cap on an ARM loan protects the borrower by:
- Mortgage-backed securities (MBS) are:
Practice More Georgia Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Georgia Quiz →