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Meet Bill Rapp

NMLS ID # NMLS # 228246

William Rapp, based in Houston, TX, US, is currently a Capital Advisor at Medallion Funds, bringing experience from previous roles at eXp Commercial, NEXA Mortgage, Viking Enterprise LLC and Sun Realty - Houston. William Rapp holds a 1997 - 2001 BBA in Finance @ Texas A&M University. With a robust skill set that includes REO, Sellers, SFR, FHA financing, Reverse Mortgages and more, William Rapp contributes valuable insights to the industry.

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Great experience purchasing our first home! Bill was easy to reach and always able to answer any questions or concerns.

27185 Astoria Brook Ln, Katy, TX 77494, USA

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🏠 Seller Concessions Explained: A Smart Way to Cut Closing Costs 💰

💸 How to Use Seller Concessions to Lower Closing Costs & Save Big at Closing 🏡

Bill Rapp, Commercial Mortgage Broker

May 27, 2025•2 min read

💸 How to Use Seller Concessions to Lower Closing Costs & Save Big at Closing 🏡

🏠 Seller Concessions Explained: A Smart Way to Cut Closing Costs 💰

💸 How to Use Seller Concessions to Lower Your Closing Costs

When you’re buying a home, every dollar counts—especially at the closing table. From lender fees to title charges, closing costs can quickly add up to thousands of dollars. But what if there was a way to offset those expenses without having to come out of pocket?

Enter: seller concessions.

✅ What Are Seller Concessions?

Seller concessions are closing costs that the seller agrees to pay on the buyer’s behalf as part of the purchase contract. These can cover expenses such as:

· Loan origination fees

· Title insurance

· Appraisal fees

· Property taxes

· Homeowner’s insurance

· Prepaid interest or HOA dues

This strategy can be a game-changer—especially for first-time homebuyers or anyone trying to reduce their upfront costs.

🧠 Why Use Seller Concessions?

1. Lower Your Out-of-Pocket Expenses
You can keep more cash on hand for moving, furnishing, or emergencies.

2. Qualify More Easily
Less money needed at closing = easier mortgage approval in many cases.

3. Flexibility in Negotiation
In a buyer’s market, many sellers are open to concessions if it helps close the deal.

📊 How Much Can Sellers Contribute?

Lenders set limits on seller concessions based on the loan type:

· Conventional Loans: Up to 3% (if <10% down), 6% (if ≥10% down)

· FHA Loans: Up to 6% of the home’s price

· VA Loans: Up to 4% plus some costs

💡 Pro Tip: Partner with a mortgage broker (like us!) to structure the offer strategically and ensure it’s lender-approved.

🏁 Final Thought: Win-Win for Buyers & Sellers

When done right, seller concessions create a win-win. Buyers save on closing costs, and sellers make their property more attractive—especially if their home has been on the market for a while.

📞 Thinking about buying a home but worried about upfront costs? Let’s chat about how seller concessions and the right loan program can help you move in with confidence and cash left over.

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Bill Rapp - Commercial & Residential Mortgage Broker

Whether you're a first-time homebuyer, a seasoned investor, or a business owner with ambitious plans, securing the right financing is crucial. At Medallion Funds, we take the guesswork out of mortgages, offering a comprehensive suite of residential and commercial loan options to fit your unique needs. Looking for Your Dream Home? We understand the excitement and challenges of navigating the residential real estate market. Our experienced mortgage brokers will guide you through every step, from pre-qualification to closing. We offer a variety of loan programs to suit your financial situation, including: • Fixed-rate mortgages: Offering stability with predictable monthly payments. • Adjustable-rate mortgages (ARMs): Providing competitive rates for a set period. • FHA loans: Making homeownership accessible with lower down payments. • VA loans: Rewarding veterans with attractive rates and flexible terms. Investing in Your Business Future? Growth often requires capital, and we can help you unlock the potential of your commercial property. Our brokers specialize in a wide range of commercial loan options, including: • Purchase loans: Financing the acquisition of new buildings or land. • Construction loans: Facilitating the development of your project. • Refinance loans: Restructuring your existing mortgage for better terms. • SBA loans: Providing access to government-backed financing for qualified businesses. The Medallion Funds Difference: We go beyond simply finding a loan. We take the time to understand your goals and develop a personalized strategy. Here's what sets us apart: • Expertise: Our brokers have a deep understanding of both residential and commercial lending. • Competitive Rates: We leverage our strong lender relationships to secure the best possible terms. • Streamlined Process: We handle the paperwork, keeping you informed every step of the way. • Exceptional Service: We're committed to providing you with a positive and stress-free experience. Ready to Take the First Step? Contact Medallion Funds today for a free consultation. Let's discuss your financing needs and help you achieve your dreams!

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