Thank you for taking the time to visit us here at Park Place Real Estate Company . Our goal is to provide you with excellent service and our expertise to address your real estate mortgage and home loan needs.
We have both experience and expertise when it comes to the real estate industry. With the ever-changing mortgage, interest rates and conditions, we’re here to make sure you are getting the best information and advice we can provide. We build relationships that last with our clients because the value is in the relationship.
Our focus is on working with you to navigate through the process. We’re here with you every step of the way. That is why we meet with you in person at your home to discuss all your real estate needs. We will go over your real estate and loan options, the loan process, and consider all of your financial goals and interests.
When considering a home loan, let us explain all your options because we can create a program that will most benefit you.
We look forward to hearing from you.
Rebates on Home Loans
Normally a borrower pays fees, loan points and costs up front. A rebate is a fee paid the lender to the real estate broker involved in brokering a loan resulting in a higher interest rate on the loan.
We can transfer part of the rebate to you the borrower to cover the closing cost for a home purchase loan or home loan refinance.
Rebates are also used to compensate the real estate broker instead of the borrower paying the fees directly from their own bank accounts for their home loan.
Using rebates along with a good strategy allows borrowers to cover closing costs and fees.
An example of a rebate;for a 30 year fixed rate on a FHA home loan of $350,000 at 3.25% (3.85APR) would provide a rebate of 1% rebate or $3,500 to cover closing cost. The same loan at 3.5% (4.05APR) would provide a rebate of 2% or $7,000 to cover closing cost and fees. In this example the borrower could get $7,000 to cover closing cost at rate of 3.5% verses $3,500 at 3.25%. The difference in payment is $48 per month.
Call Mark Gallagher today directly on his personal cell at (949) 540-2300 to schedule your FREE in-home consultation.
Mark Gallagher is a broker associate of Park Place Real Estate Company CalBRE License Number 01883363 Licensed by the California Bureau of Real Estate. NMLS Unique Identifier 397815