LENDER REBATE TO PAY CLOSING COSTS

Florida Real Estate Q&A Discussion Forum

LENDER REBATE TO PAY CLOSING COSTS

Lender · Tampa, FL · Member since 2014 · 543 posts · 168 votes

Lender Rebate or also called Lender To Borrower Credit is a great way to minimize out of pocket costs for buyer/ borrowers.

With a little higher rate, a lot of closing costs can be paid.

Anyone aware of this?

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Gabriel Amedee

Investor · Miami, FL · Member since 2015 · 379 posts · 330 votes

I feel all of your posts are either self advertisement or geared toward utilizing BP’s traffic to give your name a higher ranking (SEO Optimization). I could be wrong.. but I’m pretty certain that I’m right.

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Gabriel Amedee
Investor · Miami, FL · Member since 2015 · 379 posts · 330 votes
8y
I feel all of your posts are either self advertisement or geared toward utilizing BP’s traffic to give your name a higher ranking (SEO Optimization). I could be wrong.. but I’m pretty certain that I’m right.
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Lender · Tampa, FL · Member since 2014 · 543 posts · 168 votes
8y
@Gabriel Amedee, why would you "feel" that a Mortgage Broker unmasking the mortgage broker's secret of LENDER to BORROWER credit would be geared towards SEO? I don't advertise it....anywhere!
This is not something Mortgage Brokers post, same as Realtors try to keep a lid on Real Estate Commission Rebates.
So Gabe Amedee, do some research before you pop off with such a comments and you'll wish you would have thought twice before posting it.
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Caleb Heimsoth
Rental Property Investor · Durham, NC · Member since 2016 · 7k+ posts · 7k+ votes
8y
Pretty sure I did something like this on my second deal. Why do you capitalize random words? It sounds like you’re shouting lol
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Gabriel Amedee
Investor · Miami, FL · Member since 2015 · 379 posts · 330 votes
8y
I don’t regret anything I post and I already did my research as I’ve seen several threads on the forum where you just reply constantly to yourself because no one cares to join any conversation with you. The only way you get replies is through starting controversy. I think it is pretty obvious and it will catch up soon if you continue. Best of luck Steev
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Steve Vaughan
Rental Property Investor · East Wenatchee, WA · Member since 2014 · 10k+ posts · 16k+ votes
8y
Sounds suspiciously like a threat...
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Lender · Tampa, FL · Member since 2014 · 543 posts · 168 votes
8y
TO ALL BP Investors: this is the mindset we in the mortgage business deal with on a daily basis.
Realtors reading the above comments are rolling their eyes, laughing or shaking their heads.
PLEASE, will the "educated" Realtors on BP please enlighten and send him a PM on this specific topic before he embarrasses himself anymore.
@Gabriel Amedee, as a realtor, you should be applauding this discussion topic.
Your comments are making you look bad.
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Caleb Heimsoth
Rental Property Investor · Durham, NC · Member since 2016 · 7k+ posts · 7k+ votes
8y
I’m not sure what you’re getting at Steve lol
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Lender · Tampa, FL · Member since 2014 · 543 posts · 168 votes
8y
@Steve Vaughan, and your post is not only ridiculous, it shows everyone just how out of touch so many are in regards to the Mortgage Industry in 2018 and the awesome financing options you are apparently completely oblivious to as an investor!
I thought discussions on Real Estate Commission Rebate Saving were comical, but for a Mortgage Broker to pull back the curtain and show all in regards to Lender To Borrower Credit to pay closing costs, and it even gets such pushback, truly exposes the level of education of some posting on BP!
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Steve Vaughan
Rental Property Investor · East Wenatchee, WA · Member since 2014 · 10k+ posts · 16k+ votes
8y
'better think twice before you post like that again.' I'm ridiculous thinking of that as threatening? Shows how out of touch I am in regards to the Mortgage Industry?
Maybe that's how you speak all the time, but you're no more representative of the 'mortgage industry' than you are of the servicemen who raised the flag on Iwo as the picture you hide behind. Who gave you the right to make that your profile pic? It's insulting to all of us who served and all that awesome picture and moment represents when you use that, then act like you do.
I get my rebates in the form of not paying any of you middlemen in the first place. No mortgage originators, no realtors. I and my sellers get it without any of the fat. I don't know how I landed in another of your one-sided blow-hard threads, but I called it like I saw it - you threatened a guy for expressing an honest and credible opinion.
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Lender · Tampa, FL · Member since 2014 · 543 posts · 168 votes
8y
I'm in shock. What planet am I on?
Are there no realtors on BP who actually know what LENDER to BORROW credit actually is?
This is funny x 10!
Are you all, by your silence on this subject, saying that here in 2018, that none of you actually know enough about this topic to engage?
I'm showing all my cards as a Mortgage Broker and still, nobody can comment with a clue about this option to help your buyers pay for closing costs?
If so, your lenders have done a great job at keeping you all in the dark about what they can do to help your buyers!
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Lender · Tampa, FL · Member since 2014 · 543 posts · 168 votes
8y
@Steve Vaughan, pause MSNBC and research:
LENDER CREDIT
LENDER TO BORROWER CREDIT
LENDER CREDIT TO BORROWER
etc.
If you ever do need a mortgage loan, it's a way for borrower's to minimize their out of pocket costs by choosing a higher rate and receiving a Lender Credit.
Yankee Sierra Foxtrot India!
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Lender · Tampa, FL · Member since 2014 · 543 posts · 168 votes
8y
I just sent this thread to about 30 Mortgage Brokers, Lender Owners, Realtors, Loan Processors and Lender Reps, so they can read the posts on this topic as they would not believe me unless they were to see these comments on this topic.
These comments on this topic, above all, takes the cake! Ha
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Tom GimerBusiness Member
DMV · Member since 2017 · 3k+ posts · 3k+ votes
8y
I love how the lender first bumps the rate, then gives the credit.
Gimer Law518 Reviews
Website View Page
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Lender · Tampa, FL · Member since 2014 · 543 posts · 168 votes
8y
Okay, then on a 400k loan, stick with 3.750% rate with no lender credit to pay towards closing cost vs a few tax deductible dollars more per month at 3.875% rate with $8000 lender credit to pay towards closing cost.
Any more financial wizards want to comment?
Comical to say the least!
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Tom GimerBusiness Member
DMV · Member since 2017 · 3k+ posts · 3k+ votes
8y
Meanwhile The Donner Party REALTORS continue to give and give... and will end up with crumbs.
Nobody goes hungry behind the lender curtain.
Gimer Law518 Reviews
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Lender · Tampa, FL · Member since 2014 · 543 posts · 168 votes
8y
Funny how finnacial "wizards" always try to quicly distract BP investors away from thier comments with subsequent posts when they poke thier nose in a discussion topic in which they display complete finnacial ignorance to all.
That's okay, they need to learn too.
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Lender · Tampa, FL · Member since 2014 · 543 posts · 168 votes
8y
I feel like Mike Tyson walking into a boxing gym in the Hamptons here on BP
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Lender · Tampa, FL · Member since 2014 · 543 posts · 168 votes
8y
Im out here on Clearwater Beach with my toes in the sand, just watched the sunset, with a JD and coke , ready to respond
BRING IT!!
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Tom GimerBusiness Member
DMV · Member since 2017 · 3k+ posts · 3k+ votes
8y
Headline: Riptide pulls sleeping drunk FL MORTGAGE BROKER out to sea
Gimer Law518 Reviews
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Lender · Tampa, FL · Member since 2014 · 543 posts · 168 votes
8y
I actually watched a special the other night on the Donner tragedy because of what you've been hosting.
So at least you help to teach me something, but yet to have learned anything from your posts
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Lender · Tampa, FL · Member since 2014 · 543 posts · 168 votes
8y
I have a situation today where the buyer/borrower is limited on funds to close, so he has the option of paying a higher interest rate to get a Lender Rebate to pay for some of his closing costs and prepaid costs.
or
He could also ask the buyer agent (who I don't know) to contribute with Realtor Rebate.
What should he do?
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Caleb Heimsoth
Rental Property Investor · Durham, NC · Member since 2016 · 7k+ posts · 7k+ votes
8y
Steve McRory you’re talking to yourself again.
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Alfred Harrison
West Philadelphia · Member since 2017 · 35 posts · 11 votes
8y
Originally posted by @Tom Gimer:

Headline: Riptide pulls sleeping drunk FL MORTGAGE BROKER out to sea
This is a brutal thread but this post is gold lol
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Lender · Tampa, FL · Member since 2014 · 543 posts · 168 votes
8y
@Caleb Heimsoth if you actually understood what Lender To Borrower Rebate was and what a great tool it can be to make deals, not only would you want to use it to your advantage, you would not make such unhelpful comments.
Why is it that the least educated on Topics, are so quick to display their lack of knowledge?
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Lender · Tampa, FL · Member since 2014 · 543 posts · 168 votes
8y
@Alfred Harrison, you're right. I just read his post again as I missed the rip tide comment and I actually laughed out loud sitting here in the Acura service lounge!
That was pretty funny
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