Finance
A Mississippi property is purchased with an FHA loan. The seller agrees to pay 4% of the purchase price in closing cost concessions. If the purchase price is $180,000, the maximum seller concession is:
A$3,600
B$7,200✓ Correct
C$5,400
D$9,000
Explanation
FHA allows seller concessions up to 6% of the purchase price for most transactions. At 4% of $180,000: $180,000 × 0.
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