The common fees that the buyer (Veteran) does not have to pay are the following:
Attorney Fee, (For anything besides title work), Escrow Fee/Settlement Fee/Closing Fee, Closing Protection Letter (CPL), (The CPL fee is often included in the escrow fee but sometimes charged separately. It is a letter that makes the title company responsible if escrow does not appropriate loan proceeds correctly, Document Preparation Fee (Fee charged by escrow for preparing final loan documents), Underwriting Fee/Processing Fee (Fees charged by the lender for processing and underwriting the loan), Lock-in Fees (Fees charged by the lender to lock the interest rate),
Courier Fee/Postage Fees, Notary Fees, Application Fee,Tax Service Fee, and Mortgage Broker Fee.
The buyer is responsible for the following:
1% origination, third party fees i.e. appraisal, credit report, title report, recording fee, pest inspection, and a flood cert.
it important to note that buyer can get up to 4% seller assist that can go towards the above fees.
The buyer does have to pay for their own prepaids which are taxes and insurance, which are paid in advance at closing to pay for the escrow account.
Let's discuss your VA loan scenario in more detail. Contact me at 800 315 8803. My name is Bart and I am a proud vet that has been offering VA loans since 1987. I am happy to answer your mortgage questions, 7 days a week and review your loan scenario. Until then, I look forward to hearing from you.
Bart Gabe - Lending Nationwide Since 1987
800 315 8803 - 7 days a week