Redfin

AUGUST 5, 2025

A borrower using Freddie Mac, Fannie Mae or an FHA loan must use the home as their primary residence or second home. Consider discussing options such as a life estate, renting back to your parents or buying a second home. The seller may have to pay a gift tax if the gift of equity exceeds $15,000.

Purchase and sale agreement

HomeLight

MARCH 2, 2023

Consider factors such as how long you plan to be in the area, if you have steady employment, and if you have enough money saved for not just the down payment, but for closing costs , maintenance, property taxes, and more. Loans are between 3%-3.5% The program also has restrictions on the type of home and its location.

Closing

The Close

APRIL 28, 2022

When a financed buyer offers to cover any appraisal gap, they are putting up additional money for the down payment and closing costs. I was working with a client who only had $30,000 total for down payment and closing costs. Pay the Seller’s Closing Costs. No-cost Rent-back.

Rent back

HomeLight

NOVEMBER 10, 2021

Or that FHA loan limits vary widely, too? Buyers who are moving from one area of the country to another could be shocked at the difference in prices and loan limits. They’ll know whether offering a rent-back period could sweeten the deal, or if it’s more common to pay seller closing costs.

Inspection