How rebates work
Are rebates considered taxable income?
Rebates are not considered taxable income. A recent IRS ruling which states that a rebate we provide you will not be considered income, but rather a lowering of the purchase price.
The IRS determined in Ltr. Rul. 200721013 that certain commissions received by real estate brokers that were passed along to their home-buying clients were neither reportable payments to the brokers nor gross income to the clients.
Source: RIA/WGL Journal of Taxation on Checkpoint
Do I have to use a certain lender if I use you?
We are completely separate from lenders. You can use any lender choose.
Can my rebate be given to me after closing?
Fannie Mae guidelines and federal laws state that all credits must be given on the settlement statement (not after closing).
