Finance
In New York, 'seller concessions' at closing (where the seller pays some of the buyer's closing costs) are:
AProhibited under New York law
BPermitted by most lenders up to a percentage of the purchase price, depending on LTV and loan type✓ Correct
CRequired on all FHA loans
DTaxable income to the buyer
Explanation
Seller concessions (where the seller contributes to the buyer's closing costs) are permitted, subject to lender caps based on LTV. For example, conventional loans may allow 3-9% seller concessions depending on the down payment amount.
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