Sometimes timing is everything

[cougjunkie]

Originally Posted by FMCoug

I think it's fine as long as it was truly a purchase with a refi later (even one day later). But the buyer getting money at closing is defined as mortgage fraud is it not?

Depends. Sometimes they allow seller concessions, In some cases the Lender can cut the buyer a check for certain things. But you can not take out equity on a purchase, I think thats what you were saying. So yes that is not allowed.