Real Estate Terms

 

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Lender Rebates

Q:
What are Lender Rebates?
 
A:
Nationwide Realty Services is a Mortgage Broker which gives us a lot of flexibility in our home loan pricing. We are able to go get a much larger commission from our Real Estate Wholesale Lenders by sending them a slightly higher interest rate loan. Most companies will never tell the borrower of the increased commissions earned. On the other hand, we here at Nationwide Realty Services will pass the savings onto the borrower. For example, on a $200,000 loan increasing the interest rate from 6.000% to 6.125% will only increase the monthly payments by $16.12, yet it can increase our commissions by over $1,000. If you are short of cash and still want to buy a home, this program can help as we can use this $1,000 to pay for your closing costs.
 

 

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Do not rely on these definitions for any purpose other than providing an understanding of the concepts in our web site. More...


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