Howard Hanna offering buyer agreement/mortgage bundle deal
Buyers who sign agreements with the nation’s largest family-owned brokerage — and use its mortgage services — will get a 0.5% credit when their loan closes.
Howard Hanna is rolling out a bundle program that provides a credit at closing for clients who sign a buyer agent agreement and use the company's mortgage services.
What it does: The Buy & Borrow Bundle program will give a 0.5% credit at closing on the loan amount for those who participate in the plan. For example, a buyer who signs an agreement and gets a $400,000 loan through Howard Hanna Mortgage Services will receive a $2,000 credit that can be used toward closing costs.
The bundle program is also a way to simplify the home buying process by consolidating those key services under one roof, said F. Duffy Hanna, president of Howard Hanna Financial Services.
Timing: This offer comes a few weeks ahead of the policy changes resulting from the $418 million NAR settlement. The policy changes from that settlement include a requirement to have buyer agent agreements in place before an agent can start working with a client on buying a home.
CEO Hoby Hanna said in an email that buyers and sellers are better served when they have guidance from a real estate professional, so they saw this as an opportunity to champion the benefits of representation while also acknowledging the challenges of affordability in housing.
"As a real estate company that owns a mortgage company, we were in a unique situation to offer home buyers a financial savings on their mortgage costs, coupled with expert real estate guidance in a company-wide effort to promote housing affordability and achievability.
Hanna said they've provided more than 200 hours of training, created their own Certified Buyer Specialist program and provided business resources to help with the change.
"Howard Hanna agents are ahead of the curve, confident and ready for the changes to take effect," Hoby Hanna said.
About Howard Hanna: Howard Hanna is the largest family-owned real estate brokerage in the U.S. It is in 13 states in the Northeast and has more than 500 offices and 15,000 sales associates and staff.