Be aware that the lender charges interest, in addition to closing fees and charges. Here are some general rules:
The lender, not VA, sets the interest rate, discount points, and closing costs. These rates may vary from lender to lender
Closing costs such as the VA appraisal, credit report, state and local taxes, and recording fees may be paid by the purchaser, the seller, or shared
The seller can pay for some closing costs. (Under our rules, a sellerâ€™s â€œconcessionsâ€ canâ€™t exceed 4% of the loan. But only some types of costs fall under this 4% rule. Examples are: payment of pre-paid closing costs, VA funding fee, payoff of credit balances or judgments for the Veteran, and funds for temporary â€œbuydowns.â€ Payment of discount points is not subject to the 4% limit.)
You are not allowed to pay for the termite report, unless the loan is a refinance. That fee is usually paid by the seller.
No commissions, brokerage fees, or "buyer broker" fees may be charged to the Veteran buyer