Closing Funding

[dealz2012]

Curious if anyone here has used a credit card to fund the full closing for a resale contract instead of doing a wire? (Specifically with Mason)

I know they do deposits up to $7500 no fee, but could you fund the whole closing and pay the 3% fee?

Not concerned about the fee or cash on hand. Would be nice to float the $ on a 0% card offer for 12-15 months is the motivation.

Thanks!

 

[Chili327]

I think if the total is less than $7500, you could just put that down and cover it?
I don’t think you can pay it off with a card, but putting $7500 on the card could be a nice chunk.

 

[AstroBlasters]

I think if the total is less than $7500, you could just put that down and cover it?
I don’t think you can pay it off with a card, but putting $7500 on the card could be a nice chunk.

I thought most places dramatically reduced how much you can put in a CC unless you also pay the 3% transaction fee.

 

[VGCgroupie]

Haven't dealt with Mason but I have dealt with 4 different title companies and none would allow final payment with a credit card even if a fee was paid.

 

[sarahlord]

Curious if anyone here has used a credit card to fund the full closing for a resale contract instead of doing a wire? (Specifically with Mason)

I know they do deposits up to $7500 no fee, but could you fund the whole closing and pay the 3% fee?

Not concerned about the fee or cash on hand. Would be nice to float the $ on a 0% card offer for 12-15 months is the motivation.

Thanks!

One of the many reasons I bought my last contract direct, I put it all on a 0% credit card for 21 months!

 

[jess2022]

Curious if anyone here has used a credit card to fund the full closing for a resale contract instead of doing a wire? (Specifically with Mason)

I know they do deposits up to $7500 no fee, but could you fund the whole closing and pay the 3% fee?

Not concerned about the fee or cash on hand. Would be nice to float the $ on a 0% card offer for 12-15 months is the motivation.

Thanks!

We did this last year with Mason. We had a credit card paying 3% back so we broke even and it was easier. We did $7500 down with no fee and then paid the balance with a fee. They didn’t care how much on the card.

 

[dealz2012]

We did this last year with Mason. We had a credit card paying 3% back so we broke even and it was easier. We did $7500 down with no fee and then paid the balance with a fee. They didn’t care how much on the card.

This is exactly what I want to do for closing. It seems way easier and would rather not deal with wires, etc.

Imagine they dont really care if your paying the fee for the balance and its close to a wash for me as well. What card got you 3%?

Thanks!

 

[jess2022]

This is exactly what I want to do for closing. It seems way easier and would rather not deal with wires, etc.

Imagine they dont really care if your paying the fee for the balance and its close to a wash for me as well. What card got you 3%?

Thanks!

Chase Freedom was 3% for the first year. I don't know if they still have the offer.

 

[atthebeachclub]

I did this. Just ask them if it is possible. It was more convenient for a small contract.