Tag: Realtor commission

Use of Commission Income for Closing Costs for Realtor Purchase

Question: If a real estate agent is also the buyer, can their commission be used for either down payment or closing costs? – Interested Party Contributions – Chart – NEW MTP™ – Real Estate Agent As the Buyer – How Can Your Commission Be Used to Buy a Property? Answer: Fannie Mae will restrict the […]

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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 […]

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