Wholesale Mortgage lenders quote a series of home loan interest rates to retail mortgage brokers for them to "sell" to the consumer. Associated with each interest rate in the series is a rebate that is paid by the wholesale lender to the mortgage broker. As the interest rate in the series increases, so does the rebate. The higher the rate the typical mortgage broker can sell the consumer, the more money the mortgage broker is paid by the wholesale lender.
AgentOwned Realty is both a real estate broker and a mortgage broker and simultaneously provides its home buying and home financing services to its consumers. By providing this consolidated service, the consumer is put into certain advantageous positions not possible or available when the services are provided separately.
Contrary to the way a typical mortgage broker operates, AgentOwned Realty takes the position that the rebate belongs to the consumer. AgentOwned Realty reveals the wholesale rate sheet to the consumer and councils the consumer in selecting an interest rate that yields a rebate to offset the desired amount of the closing costs. Sometimes, this can actually be the difference in whether the sale is made or not.
For more details on how to use the mortgage rebates to pay your closing costs, contact me at 843-270-1213 or 843-725-5037 or email: Dawna@DawnaNiklaus.com
AgentOwned Realty is one of 16 mortgage brokers in the US recognized as an UpFront Mortgage Broker.
