Terms of Use

Nightingale Loan Specialist’s companies offer 1/2 of 1% of your loan amount towards closing costs. Nightingale Real Estate Specialists offer up to 25% of their commission back to closing costs. Example: based on a $450,000 purchase price with 5% down and a loan amount of $427,500. Lender rebates equals $2,137.50 and a participating realtor is providing $3,150 for a total of $5,287.50.

Actual amounts may vary depending on loan amount, rate, program chosen, credit and income. Lender credit does not apply on brokered or bond loans. Real estate credit does not apply on refinances. Credit may also be used to buy down interest rate/or both.

This is not a commitment to lend. Prices and guidelines are subject to change without notice. Some products may not be available in all states.

Equations for the credit calculator are as follows and assumes a standard 2.8% commission of the purchase price to the Real Estate Specialist upon closing. See example equation below:

$450,000 purchase price with 5% down payment is a loan amount of $450,000 – $22,500 (the 5%) = $427,500

½ of 1% of $427,500 (427,500 x 0.01 x 0.5) = $2,137.50

25% of 2.8% (standard commission to real estate agent) of $450,000 (450,000 x 0.028 x 0.25) = $3,150

Therefore, $2,137.50 Lender Credit + $3,150.00 Real Estate Agent Credit = $5,287.50

Example Grid/All examples are using a 5% down payment

Purchase Price Loan Amount Lender Credit REA Credit Total Credit
$200,000 $190,000 $950 $1,400 $2,350
$300,000 $285,000 $1,425 $2,100 $3,525
$400,000 $380,000 $1,900 $2,800 $4,700

 

Current eligible states:

Arizona, California, Colorado, Florida, Georgia, Illinois, Minnesota, Nevada, New Mexico, Pennsylvania, South Carolina, and Texas