No. It does not cost you any money to apply and obtain a pre-approval letter
Most of the time, we can issue the pre-approval letter within 24 hours of receiving complete loan package from buyer
No. there is no cost to join the program.
Yes. You can change agent as often as you want. Just login to your account and request to work with a new agent.
The real estate agent will credit up to 1% to you at closing. The credit will be applied toward closing costs and any loan points (if any)
The credit varies depend on the purchase amount, total commission the real estate agent receive. We are asking Realtor Referral Partner to credit up to 0.4% of the loan amount. Loan Factory will keep 0.05% as the administration fee to cover our costs to run this program
The excess credit will be paid to Loan Factory. We will then refund back to the borrower after we keep 0.05% administration fee.