FHA and VA Allowable and Non-Allowable Fees: Close your transactions more smoothly by knowing these in advance
FHA Loans and VA Loans have their own set of lender guidlines for real estate transactions. A good real estate agent will not only be familiar with the terms of the contract that are within those guidelines, but it is also helpful to know some of the the lending guidelines as well, since some of that overlaps on the terms of the contract.
Knowing this information will pave the way for a smoother transaction, and will avoid any last-minute underwriting drama for your transaction.
I've been able to get through many deals by knowing most of the guidelines in advance.
An outstanding escrow officer from Chartwell Escrow, Harlene Dunn, has put together this useful chart for FHA and VA Allowable and Non-Allowable fees:
Harlene's Contact info is:
Harlene Dunn
Escrow Manager
Chartwell Escrow, Inc.
14140 Ventura Blvd, Suite #110
Sherman Oaks, Ca. 91423
818-995-2580 - Phone
818-995-2588 - Fax
Comments(0)