Finance
A Texas FHA loan allows a seller to contribute up to 6% of the sales price toward the buyer's closing costs. These are called:
APurchase credits
BSeller concessions✓ Correct
CBroker rebates
DLender credits
Explanation
Seller concessions are contributions from the seller toward the buyer's closing costs, prepaid items, and other fees. FHA limits seller concessions to 6% of the purchase price. Concessions reduce the seller's net proceeds.
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