There’s been some discussion about Agents rebating commissions back to the buyer… we see ads everyday for a Agent that will refund part of their Commissions back to the Buyer at Closing.
What I want to discuss is once you’ve determined you want to work with an agent who is going rebate part of their income back to you – how do you do it?
You see – FHA does not allow you to receive money back at closing from the Builder, Seller or Agent. It’s considered an “Inducement to Purchase” and it’s just against the law. In fact, loans that have ANY form of downpayment assistance do not perform as well, and even those “Traditional” Nehemiah type programs left the marketplace on Octover 1, 2008 – leaving only NC Housing Finance Agency (NCFHA) offerings for down payment assistance for a mortgage. [Read more...]
It takes a certain amount of courage to purchase your new home… I take that back. The actual BUYING and picking out a home is a BLAST – it’s that first time sitting in the lobby waiting for the loan officer – or that first phone call with the guy that holds your future in his calculator… especially if you’ve had some 
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