Closing Costs



	[Home][VA Loan Basics][Closing Costs]
VA Loan News Updates! Recent News Updates February 2nd, 2008 Late Payment History March 3rd, 2008 Investment Property Loans April 15th, 2008 Debt to Income Ratio June 20th, 2008 Selling a VA Home September 19th, 2008 Bankruptcy October 21st, 2008 VA jumbo	VA LOAN CLOSING COSTS The veteran can pay for all reasonable and customary fees for any and all of the "Itemized Fees and Charges" distinguished by VA. The lender is allowed to charge a 1%* origination fee and a reasonable amount of discount points. Lenders vary greatly on how much fees will be charged. If you are talking to a lender who charges any origination fee you probably can do better by shopping around. We will never charge an origination fee. Keeping your Closing Costs to a Minimum: It is a fairly common misconception that a VA loan can automatically be arranged with no closing costs. By default the only fee that can be rolled into the loan is the VA funding fee. Anything other than the funding fee cannot be rolled into the loan. However, you can negotiate with the seller for them to pay part or all of the remaining costs. This is the best way to get into a house with very little out of pocket expense. Ask your realtor about the specifics in your area. But use this example as a frame of reference. You agree to in principal to buy a house for $200,000. The total estimated closing costs and prepaid items is $6,000. Arrange the sales contract to be $206,000 with the seller paying $6,000 in closing costs. The net effect is the same to the seller, but this way you get in the house without writing a $6,000 check. *360 monthly payments of $809.26 are based on principal and interest only, and an annual percentage rate (APR) of 5.068%. APR is subject to borrower qualification and subject to change. Third party fees may apply.	Get a free VA Refinance Quote Today!! Get a free Purchase Loan Quote Today! Mortgage Industry News Feed Other Useful sites: Official VA Streamline Refinance Information Veteran finance VA Benefits VA Home Loans Refinancing in declining market
[Home][VA Loan Basics][VA Purchase Loan][VA Refinance][VA Loan News][VA Loan FAQ] VArefinance.com is NOT affiliated with any government agencies, including the VA. © 2009 National Bank Of Kansas City Sitemap <> Privacy Policy info@varefinance.com