Through VREB® Network, your earned reward can be applied toward eligible closing costs, reducing the money you need to bring to closing. Instead of receiving your reward after your purchase is completed, that benefit can be put to work at the closing table. As a result, more of your savings can be kept available for moving expenses, home improvements, and life in your new home.
What Is the VREB® Reward Closing Cost Credit?
Eligible veterans who purchase a home through a VREB-assigned real estate agent can earn a reward of up to $10,000, depending on the transaction and program requirements.
That reward may be received by direct deposit after closing. Alternatively, it can be applied toward eligible closing costs when the transaction allows.
With the closing-cost credit option, less money may be required from you on closing day. Your reward amount and available credit options are determined by your transaction, applicable requirements, and VREB® program terms.
A VA Loan With No Down Payment Can Still Have Closing Costs
For many eligible veterans, a VA-backed loan allows a home to be purchased without a down payment. However, no down payment does not necessarily mean that no money will be needed.
Your home purchase may involve three separate categories of expenses:
Down Payment
A down payment is the portion of the purchase price paid upfront rather than financed. Many eligible VA borrowers can purchase without one, subject to entitlement, appraisal, and lender requirements.
Closing Costs
Closing costs are the fees associated with completing your purchase and mortgage. Depending on your transaction, these may include lender fees, appraisal charges, title services, recording fees, and other permitted expenses.
A VA funding fee may also apply unless you qualify for an exemption. When applicable, that fee can generally be financed into a VA purchase loan.Prepaid Expenses and Escrow Funding
Homeowners insurance, property taxes, and funds needed to establish an escrow account may also be collected. These amounts vary based on your property, location, lender, and closing date.
Because these expenses differ, your lender’s Loan Estimate and Closing Disclosure should be reviewed carefully.How Your VREB® Reward Can Reduce Cash to Close
Your cash to close is the amount you still need to provide to complete your purchase after deposits, credits, and other adjustments have been accounted for.
Through VREB®, an eligible reward can be applied as an approved closing-cost credit. Consequently, the remaining amount required from you may be reduced.
The process begins with three steps:
Register and get matched.
You are connected with a VREB-assigned real estate agent who can explain the program and your potential reward.
Discuss the credit before closing.
Your VREB team, agent, and lender should be involved early so the available credit and transaction requirements can be reviewed.
Apply the approved credit.
When permitted, the credit is documented as part of your closing transaction and applied toward eligible costs.
Find Out How Your VREB® Reward Could Help
Your next home may require less cash at closing than you expect.
Rewards require program registration and a qualifying transaction through a VREB-assigned agent. Reward amounts and closing-cost credit availability
vary by transaction, state rules, lender requirements, and program terms. Additional conditions are provided in your VREB® Membership Agreement.
Frequently Asked Questions About VREB® Closing Cost Credits
Yes. Your earned reward can be applied toward eligible closing costs when permitted by state rules, lender requirements, and your transaction. The available amount and method should be confirmed before closing.
Rewards can be up to $10,000. Your actual amount depends on the purchase or sale price, transaction structure, and program terms. Certain transactions with reduced agent commissions may have reduced rewards.
The credit is a way to use your earned VREB Reward. It is not a second reward added to a separate payment after closing.
Yes. To qualify for the program reward, your transaction must be completed through a VREB-assigned agent and the applicable program requirements must be met.
You are not required to use a VREB Network lender. However, your chosen lender must be involved in reviewing and coordinating any proposed closing-cost credit.
They may both be used when permitted. However, seller contributions must be negotiated, and the combined credits must meet applicable loan and transaction requirements.
No. It reduces eligible costs by the approved credit amount. Depending on your purchase, other expenses or upfront payments may still be required.
Earnest money is generally credited toward your purchase at closing. Its treatment depends on your contract and final closing figures. It should not be assumed that the deposit will automatically be refunded.
Your earned reward can be provided after closing under your VREB® Membership Agreement. Your VREB team can explain the applicable payment process and timing.
Discuss it when you register and begin working with your assigned agent. Early coordination gives your team time to review the credit with your lender and closing professionals.
Real Experiences from Veterans Like You
Amazing coordination by an amazing team. They helped us find our dream home and although we are not veterans, they still worked hard and exceptionally to meet our every need! Thank you so much VREB!
I highly recommend VREB for any veteran that is in the process of selling or buying a home. The staff are great at what they do and the service they provide for veterans is truly appreciated. No one else can offer a bonus reward that goes back to you, the veteran. They are also great at resolving any issues in a timely manner.
Easiest home buying experience I could have asked for. Everyone was so incredibly helpful and knowledgeable about any questions we had. I 100% recommend using and will continue using for any future home purchases!
I was looking at houses. Somehow something I clicked I get a phone call from VREB. Next thing I know I own a house that's 5 min from beach parking at the Gulf of Mexico. Then they cut me a check for almost a month mortgage. They helped in every way.
Everyone was very helpful and very excited to help us find our perfect fit.
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