What mortgage incentives are available when buying an Opendoor home?

When you buy an Opendoor-owned home, you may be eligible for mortgage incentives through a preferred lending partner. These incentives are designed to reduce your overall borrowing costs and can include a lender credit applied at closing.

The specific incentives and credit amounts vary by property and market. Your buyer's agent or your Opendoor representative can share the details available for the home you are interested in.

How a lender credit works

A lender credit is a dollar amount contributed toward your transaction at closing. You choose how to apply it — common uses include:

• Rate buydown or discount points to lower your monthly payment
• Prepaid mortgage insurance to reduce your upfront costs
• Closing costs such as title fees, escrow, and other recurring and non-recurring expenses

The credit is real cash applied to your transaction, and you decide how to allocate it based on what makes the most sense for you.

Do I have to use a preferred lender?

No. Use of any preferred lending partner is entirely optional. Opendoor will consider any qualified offer regardless of which lender you choose. The incentive is simply an additional option we want to make sure you know about.

You are welcome to compare a quote from the preferred lending partner against your existing lender and choose whichever is the better fit.

What does the process look like?

1. Submit your offer on an Opendoor-owned home using any lender you choose. See how to make an offer for the full walkthrough.
2. Ask about available incentives. Your buyer's agent or Opendoor representative can share what is available for the specific home.
3. Get a personalized quote from the preferred lending partner if you want to compare. The lender will walk you through what information they need and what type of credit check is involved.
4. Compare and decide. If the preferred lender's terms are better for you, you can move forward with them. If your existing lender is the better deal, your offer stands either way.

Am I eligible?

Mortgage incentives are available to buyers using loan financing to purchase an Opendoor-owned home in select markets. Cash offers and certain loan types may not be eligible. Your buyer's agent or Opendoor representative can confirm availability for your specific transaction.

Note: Use of a preferred lender is never required as a condition of purchase. All loan offers are subject to credit approval and underwriting by the applicable lender.

Who should I contact?

If you are a buyer or buyer's agent and want to learn more about available mortgage incentives on a specific property, reach out to the Opendoor representative assigned to that listing. They can walk you through current incentives and connect you with the preferred lending partner if you would like to explore your options.

Next step

Ready to move forward? See how to make an offer on an Opendoor home.

Have other questions? Contact Opendoor support at 888-352-7075 or email support@opendoor.com.