Broker wants us to ask for more settlement help and use the extra money to buy points to get us a higher loan.?

We are making an offer on a house soon and our mortgage broker wants us to ask for 6% settlement help which is more than we need and use the extra money towards points which will lower our debt-income ratio and allow us to get a semi-higher loan. We’re comfortable around $ 200k with 4% settlement help but for the house we’re making an offer on we may need $ 210k and ask for 6% settlement help.

Does this sound right or does it sound suspicious? Can we really ask for more settlement help and use the extra money to buy points like that? It just seems too good to be true and that they’re trying to pocket some extra money for themselves.

Something isn’t adding up

Register New Account
Reset Password