New agent looking to buy personal residence

[Arun Chandra]

Hello everyone,

I just passed my real estate license last week and I'm waiting for the paperwork to clear the California BRE to get setup with a broker.

I am getting married this October and recently moved from Texas to Orange County California. With the housing prices being so high in comparison I decided getting my RE license would be beneficial to be able to find our own place and for investment purposes.

The advise I am seeking is how does applying your RE commission towards the purchase of your personal home work? I spoke with a lender to get a pre-qual letter and she said that I can't use my commission towards the down payment of the house, but I can apply it towards closing costs ...

Is that the norm? Are there other things I can use the commission money towards? Just curious what other agents do. Any insight would be helpful..

Thanks in advance!