FAQ About Questions on New Home Rebates
What is a buyers rebate?
Rebates are typically payments taken from the real estate broker's commission to his or her client at closing. These rebates that must be approved by the lender can be applied to a credit towards closing costs and/or prepaids. If there is any rebate amount left over, this money can possibly be used in a reduction to the price of the home, Interest Rate Buy-Down, principal curtailment etc, or options from the builder and lender.
