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on a conventional mortgage purchase at 85% LTV can the realtor give up their commission to the borrower towards the purchase of the property

by angela.r687 from Fort Lauderdale, Florida. Aug 26th 2014 Reply


John B. Craig (jcraig@ctcmortgage.net)
#89 ranked lender in Georgia - 7 contributions

Only if the Realtor was a close relative of the borrower, since it would be considered a gift.

Aug 26th 2014
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Todd Tholl (toddtholl@leader1.com)
#4 ranked lender in Iowa - 239 contributions

NO

Aug 26th 2014
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William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,550 contributions

The Realtor can contribute to your closing costs, but she cannot give you funds to lower the principal balance unless she is related to you.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Aug 26th 2014
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David Ortega (DavidOrtega)
#1 ranked lender in Minnesota - 230 contributions

Yes, toward the closing costs. To contribute money toward the down payment is a lot more tricky, just as described in previous answers already submitted here. I would be happy to review and quote your purchase. We do not charge a fee for this. David Ortega - Satori Mortgage - 954-900-9788 - dortega@satorimortgage.com - www.SatoriMortgage.com

Aug 26th 2014
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Sean Young (SeanYoung)
#2 ranked lender in Colorado - 1,112 contributions

They cannot pay anything towards your down payment. However, they can pay towards your closing costs. The only exception would be if the agent was a relative and you followed through with all of the gift guidelines.

Aug 27th 2014
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