Issue: Rate Selection is not Available for a Discount when Pricing
Solution: The seller credits may be maxed out according to the loan amount and down payment.
Try reducing the Seller Contribution and the ability to select prices with discount will become available.
Possible Scenarios for Each Loan Type is Listed Below:
Conventional Loans
The limit for conventional loans depends on how much you are putting down:
If your down payment is less than 10%, the seller can contribute up to 3%.
If your down payment is 10-25%, the seller can contribute up to 6%.
If your down payment is more than 25%, the seller can contribute up to 9%.
If you are buying an investment property, the seller's contribution is limited to 2%, no matter your down payment
FHA Loans
For all FHA loans, the seller can contribute up to 6%.
VA Loans
VA loan rules dictate that the seller can contribute up to 4%. In addition, seller concessions on VA loans may include payments toward a buyer's judgments, debts, and VA funding fees.
USDA Loans
For USDA loans, the seller can contribute up to 6% of the buyer's loan amount. This is the one loan type where seller concessions are not based on the home price or appraised value.