topic Re: Mortgage Broker fees and Realtor commission for VA Loan in Mortgage Loans

Mortgage Broker fees and Realtor commission for VA Loan

Anonymous — Sat, 18 May 2019 04:14:10 GMT

I am looking at buying a house with a VA loan and was pre approved through USAA. I was reading that Veterans cannot pay Broker fees and Realtor commisions with a VA Loan.

Am I reading this right? The reason I'm asking is, my sister's friend is my realtor and I would feel a little awkward about her doing this work if she's not going to make any money from it. Am I reading this right? Or is there something I'm missing.

Re: Mortgage Broker fees and Realtor commission for VA Loan

Anonymous — Sat, 18 May 2019 04:55:23 GMT

The agent will be paid from the sellers agent. The seller agrees to pay a certain % to sell their house and their agent will split that between themselves and the agent that brings the buyer.

Re: Mortgage Broker fees and Realtor commission for VA Loan

Anonymous — Sat, 18 May 2019 08:53:39 GMT

I’m actually in the same boat, tried making a post but it won’t let me
My experian is 664
TU is 688
And EQ is 690
I live in Vegas own my own business just opened last year and the average home is selling out here for roughly 330k
I’m basically just trying to figure out what I need to improve and do, and if you can give me any guidelines to follow. Any numbers such as loan amounts or DTI would be great thank you

Re: Mortgage Broker fees and Realtor commission for VA Loan

JVille — Sat, 18 May 2019 22:04:59 GMT

Seller pays those fees, the Buyer NEVER pays commissions.

Re: Mortgage Broker fees and Realtor commission for VA Loan

homeloanexpert — Sun, 19 May 2019 13:19:09 GMT

As stated, buyers whether VA or not, do not directly pay RE Commissions. Those costs are paid by the seller out of the proceeds of the sale. There are other fees that a Vet cannot pay, such as Escrow or Settlement Fees, and certain title fees, etc.

Best wishes to you!