Finance
In Kansas, 'seller-paid closing costs' or 'seller concessions' must be disclosed and may affect the loan in which way?
AThey are not required to be disclosed on the Closing Disclosure
BThey are disclosed on the Closing Disclosure and lenders impose limits on seller concessions as a percentage of the sale price for different loan types✓ Correct
CThey automatically increase the sale price
DThey are always unlimited for all loan types
Explanation
Seller concessions must be disclosed and different loan programs (FHA, VA, conventional) have different limits on seller concessions — typically ranging from 3% to 9% of the sale price depending on LTV.
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