PenFed Realty: 1% cash back?

[MooreBonds]

I was logging out of my PenFed account, when I saw a link for PenFed realty:

http://www.penfedrealty.com/

If you use them to buy a home, you get 1% cash back! Pretty sweet...and pretty interesting diversification on their product lines.

 

[Dawg52]

If I have to provide tax returns and supporting documents for a frigging credit card, I'm sure not gonna jump through all the hoops they probably have for a mortgage. If I ever buy a new house, it will be by cash anyway.

Probably a good deal for young people with mortgage plans.

 

[cute fuzzy bunny]

Looks like they're only operating in the virginia/dc/maryland area and theres a magical "up to 1%" without any footnote going with the "*" to figure out what the "up to" fine print means.

BTW, costco and other group programs offer rebate buying and selling programs.

What you end up getting through these is often either an inexperienced buyers/sellers agent willing to give up a bunch of their cash, or a "mill" agent that wont spend much time with you. Not that this is necessarily automatically a bad thing but...it can be.