Frequently Asked Questions

What is a closing cost credit/rebate?

When you purchase a home, there are costs in addition to a down payment. Closing costs can include: title insurance, escrow fees, HOA fees, loan costs such as origination fees, processing fee, appraisal fees, credit report fees, underwriting fee, and 'points', which are upfront fees to lower your mortgage interest rate. Any (or all) of these fees can be offset by credits when it comes time for your total amount due on closing day. In example, if you have a $30,000 down payment, and total of $7,000 in closing cost fees, your out of pocket at closing is $37,000. With a $5,000 credit, your total out of pocket cost will be $32,000 instead. A 'rebate' and a 'credit' are the same thing, and used interchangeably.

Can I buy down the interest rate with this credit?

Absolutely! This is one of the best uses of the credit. If you don't want to use it to cover closing costs, OR if the builder is already providing a credit to cover these costs, then you can use the credit to "buy down" the interest rate to a below market rate, saving you exponentially more than face value over the life of the loan.

The builder already provides a credit, is this different?

Yes! Many builders are offering incentives in the form of credits which are customarily tied to use of the builders preferred lender. Any credit offered by a builder, is IN ADDITION to the $5,000 credit. Stacking credits is exactly how many buyers end up with zero closing costs, and can still have enough credits to buy down the interest rate to a below market rate. The $5,000 credit is NOT tied to the use of any specific lender or title/escrow company.

Do I need an agent for a new home?

Despite what the home builder would like you to believe, it's always advised to have your own agent in any home purchase. Would you represent yourself in court if an experienced attorney was willing to represent you AND pay you $5,000 to do so? If you don't bring in your own agent, you're taking the advice of a builders representative. Regardless of how pleasant they are, builders representatives are employed and represent the builder interests ONLY - not yours. Home Builders have a separate budget for agent commissions, and unless you bring your own agent in, you can not tap into that additional source of savings - it goes right back into the builders and/or builders reps pocket.

What if I already went in to the community without an agent or with another agent?

Please contact me to discuss the specific situation.

What communities are eligible?

This is currently available for ALL new home communities in the Phoenix Metro area. New home communities outside of the Phoenix Metro, but in the State of Arizona, are considered on a case to case basis. Builders such as DR Horton, Pulte, Shea Homes, Camelot Homes, Lennar, Toll Brothers, Cachet, K Hovnanian, Taylor Morrison, Fulton Homes, KB homes, and many more.

How do I get started?

Please complete the form on the registration page, and I will respond promptly