Fannie Mae – Real Estate Agent Borrower – Commission Usage: When a real estate agent is also the buyer, can their commission earned on that sale go towards their down payment and closing costs?
Answer: Fannie Mae restricts the use of commission for down payment but could use the commission for closing costs. And yes, the agent / borrower should be able to show sufficient funds to close without counting the commission. That use of the commission for closing costs would count towards the limit on interested-party contributions. The […]