How to Calculate Your Buyer Rebate
Our program includes a Realtor commission rebate plus a $1,500 Lender Credit from Planet Home Lending. These funds can be applied towards your closing costs and prepaids at the closing of your loan. Most of our clients are able to take advantage of both the Realtor Rebate and Lender Credit, but there may be very limited circumstances in which we are unable to offer both the Realtor rebate and the Lender Credit. We will do our best to inform you as soon as possible if your eligibility for either the Realtor rebate or Lender Credit is in question. Our calculator shows BOTH credits combined, but does not display the exact rebate because that will depend on your agent’s actual commission, which will vary by property. The calculator shows 27% of an assumed 2.8% commission, but the commission could be higher or lower, which will impact your total rebate.
- The precise way to calculate your rebate is to multiply your real estate agent’s commission by a percentage. You’ll receive 27% of the agent’s commission (Colorado) as a rebate, or 25% of the agent’s commission (all other states with a participating Realtor) as a rebate, according to the agent’s commission rate as determined by the seller’s listing agent. You will also receive a lender credit that is the same in all states ($1,500) if your mortgage is with Seth Erickson at Planet Home Lending.
- Typical Buyer’s Agent commission ranges by state (calculated by sales price):
- CO: 2.5% – 2.8%
- CA: 2% – 2.5%
- FL: 2.5% – 3%
- TX: 2.8% – 3%
- VA: 2.5% to 2.8%
The 1% Listing Commission
- The 1% listing commission program is applicable only to homes sold in the Denver Metro Area, through David Lampe or Thomas Grant at The Principal Team, or Tori Whittaker at Colorado Home Realty.
- There will still be a commission offered to the buyer’s agent. This amount can be discussed and you may offer any percentage you choose.
- The commission savings is based on paying your Front Range Heroes listing agent 1% and the buyer’s agent 2.5% for a total commission of 3.5% vs another agent charging a total commission of 6%.
Notice About Mortgage Lending and Loan Availability
We cannot guarantee that you will qualify for a mortgage and/or be able to purchase a home. Front Range Heroes does not lend or provide mortgages, and we cannot quote interest rates or closing costs. You will need to have a discussion with your lender and obtain loan pre-approval, at which time these rebates will be disclosed in an estimate, along with all the proper disclosures as required by law.
Using Your Personal Data
We may use your personal information to:
- send you email notifications which you have specifically requested.
- send you our newsletter and other marketing communications relating to our business or the businesses of carefully-selected third parties which we think may be of interest to you, where you have specifically agreed to this, by email or text message (you can inform us at any time if you no longer require marketing communications).
- administer the website.
- enable your use of the services available on the website.
We will not without your express consent provide your personal information to any third parties for the purpose of direct marketing.
Information We May Collect
We may collect, store and use the following kinds of personal data:
- Information you give us
- Information you give us for the purpose of subscribing to email notifications and/or newsletters
- Information about your computer and about your visits to and use of this website (including your IP address, geographical location, browser type, referral source, length of visit and number of page views);
- Information relating to any transactions carried out between you and us on or in relation to this website, including information relating to any inquiries you make on this website.
- Any other information that you choose to send to us
In addition, we may disclose information about you:
- to the extent that we are required to do so by law;
- in connection with any legal proceedings or prospective legal proceedings;
- in order to establish, exercise or defend our legal rights (including providing information to others for the purposes of fraud prevention and reducing credit risk); and
- to the purchaser (or prospective purchaser) of any business or asset which we are (or are contemplating) selling.
Security of Your Personal Data
We will take reasonable technical and organizational precautions to prevent the loss, misuse or alteration of your personal information.
We will store all the personal information you provide on our secure (password- and firewall-protected) servers.
Of course, data transmission over the internet is inherently insecure, and we cannot guarantee the security of data sent over the internet.
The website contains links to other websites. We are not responsible for the privacy policies or practices of third party websites.