[Andreas]

closing cost mortgage loan? Here is my situation, I am on a contract to buy a house for $300,000 and the seller (bank owned) has accepted to offer $9000 (3%) in seller subsidy. In the meantime, I found a lender who is willing to do a no closing cost loan. My loan is for $240,000 as I put 20% down (ie., $60,000). Could you please advice me on how wisely use this seller subsidy?Should I re-negotiate the price with the seller ? (reduce the price to $291,000) or is there any other way to use this $9000? Please help.My interest rates are the same with or without fees. My loan details: 15 yr fixed rate mortgage and even If I buy points (max:1.25) to lower, still I end up with a closing cost of ~$6000 meaning $3000 remains unused.