Mortgage lender offers vaccinated borrowers a discount of $ 500

As more companies need to vaccinate returning employees, Neat Loans, an 11 state licensed digital mortgage lender based in Colorado, is offering a $ 500 discount to loan applicants who have received a COVID-19 vaccine.

“Neat believes vaccinated individuals are critical to the well-being of our community,” the company said when it announced the discount on closing costs for vaccinated applicants for purchase loans or refinancing.

The offer is also available to unvaccinated borrowers who state that they cannot be vaccinated because of a health condition or religious belief. Neat says it will help all loan applicants who want to get vaccinated get access to a vaccine for free if they haven’t already because they don’t have access to health care, childcare, or transportation.

There’s a practical reason, from a lender perspective, that applicants should get vaccinated, said Luke Johnson, CEO of parent company Neat Capital, which in January announced a $ 22.5 million Series B funding round.

“Mortgage lenders need to have important conversations with their customers about the home buying process and their vaccine status in relation to employment,” Johnson said in a statement. “This is partly because responsible companies require their employees to be vaccinated to keep jobs safe, and employment status is crucial when financing a home loan.”

The Equal Employment Opportunity Commission (EEOC) published guidelines on COVID-19 vaccines on December 16, 2020, stating that federal law allows companies to require employees to get vaccinated before returning to work.

In some cases, employers need to make “reasonable accommodation” for workers who cannot be vaccinated because of a disability, religious belief, or pregnancy. Companies might consider allowing unvaccinated employees to return to work if they are wearing a mask, social distancing or working on a modified shift, advised the EEOC.

Some real estate companies, including Corcoran, Brown Harris Stevens, Redfin, Related Companies, and the Durst Organization, have announced mandatory vaccination policies for returning workers. This week, Keller Williams co-founder Gary Keller urged real estate professionals to get COVID-19 vaccines and wear masks.

Email Matt Carter

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