The Discover Real Estate Rewards program offers up to a $3,100 bonus when you complete your next home purchase or sale.
Plus, the Discover Home Loans program offers a 5% Cashback Bonus when you use your Discover Card to pay for your appraisal deposit.
These are 2 separate programs, so you don’t have to participate in both programs to earn either reward.
Discover Real Estate Rewards up to $3,100 Bonus
The Discover Real Estate Rewards Program allows you to earn up to $3,100 in cash rewards per transaction when you buy or sell a home.
This program basically just introduces you to a real estate agent in your area to help you buy or sell your home.
There is no cost to enroll in the program, but you may be responsible for any real estate fees or commissions, if applicable, just like you would with any other real estate agent.
This program is offered by Cartus, which is a part of the Realogy Franchise Group that includes brands such as Better Home and Gardens Real Estate, CENTURY 21, Coldwell Banker, ERA, and Sotheby’s International Realty.
Cartus is not affiliated with Discover Home Loans, and you don’t have to obtain your mortgage from Discover Home Loans to receive the cash rewards.
You are not eligible to receive cash rewards if you obtain a Federal Housing Administration (FHA) loan from Discover Home Loans to purchase the home.
This program is not offered in Iowa, and cash rewards are not available in Alaska, Louisiana, Mississippi, and Oklahoma.
The cash rewards are paid as a check, except in Kansas and Tennessee where rewards are paid as a Discover gift card, and New Jersey and Oregon, where rewards are paid as a credit at closing.
Checks and gift cards are mailed within 4 weeks of closing, and a check is presented at closing in Alabama.
Discover Home Loans 5% Cashback Bonus
If you decide to use Discover Home Loans, you can earn a 5% Cashback Bonus when you use your Discover card to pay for your appraisal deposit.
This offer is available on both new home purchases and for refinancing of your current mortgage.
In most cases, your appraisal deposit (used to purchase a non-refundable appraisal report covering your real property, which is their collateral for the proposed loan) will be required in order to process your loan application.
The appraisal deposit amount will be credited to your closing costs when your loan is closed and funded.
The 5% Cashback Bonus is only available when you use your Discover Card Issued by Discover Bank to pay for your appraisal deposit, as cards used by other Discover Network issuers are not eligible for this promotion.
You must allow up to 2 billing cycles for this reward to be added to your Cashback Bonus account.
Take advantage of these programs to earn up to $3,100 per real estate transaction when you buy or sell your home, plus get a 5% Cashback Bonus if you use Discover Home Loans and pay for your appraisal deposit with a Discover card.