Can HIN Bank of America incentive be used to increase the Net (or raise the purchase price?)

Can HIN BofA incentive be used to increase the Net (or raise the purchase price?).  We've been told by LRC it cannot?

Elizabeth Kayser, Esq.

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I am closing one tomorrow where the initial incentive was $5000 but decreased

to $2500 to increase the net. This is a BofA FreddieMac loan

Can you call me?  636 220 2218.  Elizabeth Kayser, Esq.

Hey Elizabeth,

Indirectly, Yes.  they can do this.  They generally can NOT contribute it towards list price or net, but can contribute it towards front page line items on the taxes, junior lien etc (except for net to senior)


warm regards,



we don't need it for front pg items, only to increase offer price.  and we have 8k.  MI is radian and is demanding this net, but BofA says HIN cannot be used to increase the offer price?

the hin incentive can be used to pay off front page items which would increase the net to the first.  The verbiage would say "hin incentive from seller to taxes $xxx".  this would then increase the net to the first.  It just cant say HIN incentive to be contributed to first lien holder net.  make sense?

YES IT DOES.   thank you!

Is this a cash sale, or financed?


First try what Jason said - use the HIN to pay for existing seller side expenses such as taxes, etc.  If that does not work, contact the MI company rep and explain the situation that you are dealing with and see if you can work out a post closing cash contribution from the seller since they will have the $8K HIN to work with.

If the seller was given the HIN incentive on one transaction and it fell thru, is he still entitled to it on another transaction?  I was told it was a one-shot deal.  Any truth to that?  

Also, in our previous transaction, the HIN incentive was used to pay off the HOA lien which was acceptable to BOA.


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