Profile picture for jroyko

Are buyers rebates permissible when financing with a VA loan?

We're considering hiring a buyers agent and we've found one that offers a 2% cash back buyers rebate; however, we are financing with a VA loan--is this permissible?

Thanks!
  • February 24 2012 - Rockaway Township
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Answers (3)

Profile picture for vishgoel
Hi there,

I am looking for an agent that offers buyers rebate as well. Would you plz introduce me as well (as long as she is not yris arpino).


PS:
For someone who responded with heart surgeon example: to be a heart surgeon you need 10+ years of tough education in medicine but to be an agent <>.... if it was broker dealing with clients directly - i would not mind paying commissions... but, you have to accept it - most agents do not add much value to transactions (barring exceptions that are rare to find)
  • February 14 2013
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Profile picture for JamesKuang
Buyer's agents are always free to you so there isn't really much "hiring."  It is the seller who pays the agents.

 You will probably find an agent that will give you a chunk of their commission depending on how desperate they are but then you have to wonder why they are that desperate to give you a portion of their income in the first place.

Do they offer the best service?  Are they having trouble retaining clients in such a way that they have to resort to offering a portion of their income?  Would you be comfortable choosing a heart surgeon that's the only one offering a rebate?

A real estate transaction is a lengthy and complicated process with many parts to it so it is best not to take any chances that might lead to it falling apart.

Simply put though, yes you can, just ask around, there are plenty of desperate agents but it can end up being one of those situations where you save on the front end and end up paying for it dearly on the back end.
  • February 24 2012
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Check out this site: http://www.benefits.va.gov/homeloans/

Thank you for your service to our country and Good Luck. Regards,
  • February 24 2012
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