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Using my commission to offset downpayment?
Can a licensed agent increase there commission to offset some or all of the out of pocket costs of acquiring an investment property? My wife and I are licensed and have purchased an off market property before with seller paying closing costs and paying me both sides (6%) commission. Is there any reason I couldn't increase that commission amount? I'd love to hear from some mortgage folks here? What if it were 10%? or there were a 10k bonus on top of 6%? Does Fannie have any language restricting this? Would the lender spit it out when reviewing the hud?