Keller Williams International purchase a bank recently and created a loan program exclusively for its real estate agents around the country. They call it the ZeroPlus Loan. A buyer of a residential property, including investment properties from 1 to 4 units, can borrow money for their purchase and pay zero Origination Fees, zero Processing Fees, and zero Underwriting Fees. And, if the loan is greater than $150,000, the buyer will receive $1,000 from the lender to pay a portion of their Closing Costs. This program can be utilized by not only the buyers represented by a Keller Williams Agent but, it can also be utilized by any buyer who purchases residential real estate that is listed by a Keller Williams Agent. This could be as much as $7,500 on a $500,000 loan.
A Game Changer, maybe! If by purchasing a home through a Keller Williams Agent the buyer may reduce their out of pocket costs by $7,500 versus using another real estate agent, wouldn’t that make sense? My understanding is that the interest rate on the loan will be identical to any competing lender. In our listing presentations we can emphasis this loan program for any potential buyer of that property. This is just one more reason for the owner to sign the listing agreement with a Keller Williams Agent. Although Keller Williams is already the number one residential real estate firm in North America, it has provided its agents with a way to increase the volume of transactions by providing this loan program to its agents.