Funds are available on-
Conventional, and Sub-Prime loans.
At the close of escrow, a fee will be charged to the seller of a home participating in the down payment program.
(Funds are sourced as borrowers own)
Fees on funds shall be $750, up to an amount of $10,000. Funds exceeding $10,000 shall have a fee of 10% of the amount provided.
The fee, paid by the seller, is for services rendered and is not considered a tax-deductible, charitable donation. The fee, however, may be tax-deductible as a selling expense. Sellers should consult their tax advisors regarding this issue.
