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Updated about 5 years ago on . Most recent reply

User Stats

39
Posts
34
Votes
Hart Pearson
  • Rental Property Investor
  • Fayetteville, GA
34
Votes |
39
Posts

Using my commission to offset downpayment?

Hart Pearson
  • Rental Property Investor
  • Fayetteville, GA
Posted

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?

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