Can a realtor be the loan officer in the same transaction?

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I am a borrower out in AZ and my realtor is also my loan officer is this legal??

Can a realtor be the loan officer in the same transaction?

Absolutely, provided that your Realtor is fully licensed in both area's. It actually helps ease the sale process a bit. There are so many people involved in the transaction. One more person taken out of the equation speeds things up a lot.

It's legal...

And, just a suggestion, the smartest thing you can do which not one other person has mentioned here is you should shop around for the best mortgage...

It's sad that everybody has to jump to talk crap about a Realtor who also acts as a Mtg Broker, that is wrong, and is plain ignorant. Real Estate and Mortgage go hand in hand. A Realtor who acts as a Mtg Broker is just doing exactly what it takes to be the best in his field, this person SHOULD be an example to every other Realtor reading this! Send this person the Respect they deserve!

Can a realtor be the loan officer in the same transaction?

I am a listed Real Estate Broker in California. The answer depends on your state real estate department. Look up the Arizona State Department of Real Estate. There should be an 800 phone number. Call them and they will give you the right answer.

Can a realtor be the loan officer in the same transaction?

yes if the state allows it AND he would need to disclose it to you. If it's an FHA mortgage then he's NOT allowed to do so.

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Can a realtor be the loan officer in the same transaction?

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