Tag Archive for: closing cost credits

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

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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

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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

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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…

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Appraisers can’t usually count illegal in-law units toward value, and seller credits must not exceed closing costs. Here’s how to handle both.Read More

Closing Cost Credits: NRCC, RCCs, Taxes, Insurance

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Discover how lenders, sellers, and realtors can credit commissions to help cover non-recurring (NRCC) and recurring closing costs (RCC) during the home buying process.Read More

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

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Closing cost credits can cover all fees, but if they exceed actual costs, the excess is lost to the seller. Buyers should estimate costs early and adjust credits accordingly before loan documents are ordered.Read More