Charles Schwab Bank: $500 Off Mortgage Loan Closing Costs (Feb. 2014)

Theresa Kim

By , Staff Writer
Posted on Fri Feb 21, 2014, Last Updated on Fri Feb 21, 2014

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Charles Schwab Bank is offering $500 off towards the closing costs on any new purchase or refinance loan provided by Quicken Loans.

The deal

To qualify for the $500 reward, you must apply for the loan through this promotional page under the “Get Started” link or by calling Quicken Loans at 877-521-1286.

In order to participate, you must agree that Quicken Loans may share your information with Charles Schwab Bank. Offer is available for mortgages except for Home Equity Lines of Credit that close through Schwab Bank’s home lending program from Quicken Loans.

The closing cost discount will appear on your final HUD-1 statement at closing.

The offer expires Mar. 31, 2014.

CharlesSchwabBankDeal Feb. 2014

The accounts

There are two types of Home loans provided by Quicken Loans:

  • conforming loans
  • jumbo loans

Conforming mortgage loan meets Fannie Mae and Freddie Mac maximum loan limits. Jumbo mortgage loans are larger than the Fannie Mae and Freddie Mac conforming mortgage loan limits. Both loan limits are published annually by the Federal Housing Finance Agency (FHFA) and vary by county.

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