Real estate license to Avoid Closing costs
Hi,
A friend of mine told me I should get a real estate license to avoid closing costs because I am researching properties over 500k.
3% of loan is closing costs. I crunch the numbers on an ideal property and yes, closing cost is making the ideal purchase difficult.
I tried to see if there are any FHA loan programs that help with closing costs and I can't seem to locate a lender. My income is too high to qualify for government help and they don't support multi-family units.
Any advice?
Most Popular Reply
There is no such thing. Just because you are an agent does not prevent you from paying closing costs. The closet thing to this is as an agent you are buying a property and representing yourself as the buyers agent. You still have to pay the closing costs but get it off set by getting a commission.