Your Home Buyer Savings

Frequently asked questions

How do I receive my buyer's rebate?

You receive your rebate at closing. You may choose to have the money applied as a credit towards your closing costs, pre-paid expenses, or FHA/VA non-allowables, and this will be shown on the HUD-1 documents. Or, you may choose to receive the rebate in cash!

How much may I expect to receive, since the amounts vary for resale and new homes?

With every home the commission is indicated. For most resale homes including foreclosures, the commission is 3%. For most new homes the commission is 3.5% or 4.0%. For most short sales the commission is less than 3%.

Is the rebate taxable income?

No, the rebate reduces your taxable basis (cost). The rebate is not income. It's the same as a rebate when you buy a car.

Do I have to use a certain lender in order to qualify?

Of course not! Please use the lender of your choice. And we encourage you to shop and compare programs and rates. Get several Good Faith Estimates -- in writing!

© Copyright 2010, Columbia Properties Residential Brokerage LLC. Licensed by the Colorado Department of Regulatory Agencies Division of Real Estate. Home prices and listing data based on information from the Pikes Peak REALTOR® Services Corp. (RSC). RSC does not guarantee or is in any way responsible for its accuracy. Data maintained by RSC may not reflect all real estate activity in the market. Sales data based on information from the (Colorado Springs) El Paso County Assessor's office and sales figures do not show seller concessions if any.