How to Get Lender Credit

In this video, I’m answering the question, what is lender credit? Lender credit is not a coupon, it’s not for special clients or partners, lender credit is simply a credit given from a lender because you took a slightly above market rate. This is based on a rate sheet using math to determine what interest rate is best for you. Strategy comes into play here - do you plan on staying in your house for a while? Maybe a higher interest rate and more cash towards your closing costs is best for you. Regardless, work with a broker you like and trust to help guide you through.

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Thanks for watching!

Notes:
Introduction (00:00)
Lender Credit Explained (1:00)
What’s a Rate Sheet (3:19)
Strategic Mortgage Decisions (4:19)
Common Use for Lender Credit (6:01)

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Cheers! 😊

[Theo-B]

Do Par rates apply on investment loans as well? And do lenders disclose this?

[linda]

But I love coupons!! 😆😆 thanks for the great explanation. Do you notice with VA loans people using a lender credit to cover some of their closing costs?

[zitawillingham]

I never heard of lender credit before who says you cant teach an old dog new tricks