In addition to the seller contributing towards your closing costs, if the seller is willing, you may be able to get an additional 6% paid towards any debt (car payment, credit card bill) that you have. It's all in what you negotiate and what the seller is willing to do. Depending on your local contracts and lender requirements, it may have to be pre-written in the contract.
This does not cover your VA funding fee (if you are required to pay one) but you can finance that into your loan. I am not a loan officer but have sold houses to a ton of VA buyers and, like I said before, roughly 3-3.5% should be what you need for closing costs and prepaids including appraisals, inspections, survey..everything you need.
Don't assume any numbers, make sure you ask your agent and loan officer the questions before writing the offer since you may have to have it spelled out ahead of time. Good luck
Hope this e-mail finds you doing well.
Usually depending on the purchase price etc, the closing cost can be 0 - 3.5% of the purchase price.
I have a VA Loan Specialist that handles only VA Loans and does an excellent job.
Currently, he is closing a VA Loan that other Mortgage Bankers were not able to facilitate.
Please feel free to give me a call and will work on getting you pre-approved and LET'S GO SHOPPING!
Looking forward to hearing from you.
Thanks a MIllion!
Constance Crawford, P. A.
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