Tag Archive for: closing cost credits

Closing Cost Credits Are Back! (From Sellers and Agents)

/in ,
I used to blog frequently about closing cost credits from sellers and agents – but I stopped because the market was so hot that no seller or agent would consider […]Read More

Closing Cost Credits; Agent Credits Allowed; Reminders

/in ,
Closing cost credits are often necessary to help cash-starved borrowers close transactions, as total closing costs can easily exceed $10,000 for even inexpensive homes, depending on transfer taxes and other fees local to a particular county.Read More

“1% Closing Cost Credit Referral” How’s It Work? Compliant? No Free Lunch

/in ,
One of America’s largest mortgage banks is offering a “1% closing cost credit referral” to real estate agents. The below paragraph was copied directly from an email that the lender […]Read More

Illegal In-Law Units and Credits For Closing Costs Always OK If…

/in ,
We blogged yesterday about “Clean Contracts” and received a couple of great questions. Illegal in-law units and/or kitchens:  Appraisers cannot attribute value to illegal units in most cases, unless they […]Read More

Closing Cost Credits for NRCC, RCCs – Taxes, Transfer Tax, Insurance

/in , ,
Closing Cost Credits This is a reminder that lenders, sellers, and Realtors can credit commissions or proceeds for closing costs. Closing cost credits are often necessary to help cash-starved borrowers […]Read More

Closing Cost Credits Too Large? What To Watch For & Do?

/in ,
Yesterday, we mentioned that closing cost credits can equal 6% (or even 9%) of the purchase price. Hence, for a $500,000 purchase, it is completely acceptable to have the seller […]Read More