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Closing
costs that may be charged to the buyer are considered
"allowable" closing costs per VA. These are
buyer costs that are reasonable and customary as determined
by VA. All other costs are considered non-allowable
are are generally paid by the seller when purchasing a home
or the lender when refinancing your current VA
mortgage. The following tables gives a break down of
these costs:
Allowable
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Non-allowable
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- Appraisal
Fee (if customary)
- Credit
Report Fee
- Endorsement
Fee (related to title insurance only)
- Home
Inspection Fee
- Notary
Fee
- Origination
Fee (max 1% of loan)
- Discount
Points
- Recording
Fee
- Title
Insurance / Title Search fees
- Funding
Fee
- Survey
- Flood
Zone Determination
- Prepaid
Items such as property taxes and hazard
insurance
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- Bring-down
Fee
- Loan
Application Fee
- Processing
Fee
- Lender's
Administrative Fee
- Document
Preparation Fee (unless the documents were
prepared by a company other than the lender)
- Documentary
Transfer Stamp Tax
- Attorney's
Services (other than title work)
- Interest
Rate Lock-in Fee
- Postage/Delivery
Fee
- Loan
Tie-in Fee
- Photo
Fee
- Notary
Fee
- Tax
Service Fee
- Underwriting
Fee
- Escrow
Fee
- Buyers
Broker Fee
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HOW CAN YOU GET QUALIFIED?
1) Click
here to fill out a Good Faith Estimate.
Now we may get you approved
and give you a detailed estimate showing the interest rate
offered, the loan amount, the estimated monthly payment, all
of the costs of the loan and what they are for, and how much
money you will need to close.
2) If you like the estimate, we
will issue you an APPROVAL LETTER and you can go house
shopping!
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