VA closing cost chart: who can/will pay what?

By
Mortgage and Lending with Fairway Independent Mortgage, LLS. Equal Housing Opportunity. Regulated by the Division of Real Estate. LMB100023827. NMLS257576.

Have you ever wondered who is allowed  (or required!) to pay what fees. Hopefully, this chart will help!

 Fee/Expense

Borrower

Seller

4% Concession

1% origination fee

x

x

 

Discount Points-customary

x

x

 

Discount Points-to permanently buydown interest rate

x

x

x

Escrowed Funds for temporary buydown

x

x

x

Funding Fee

x

x

x

Appraisal

x

x

 

2nd Appraisal requested by Veteran for reconsideration of value

x

x

 

2nd Appraisal requested by lender for reconsideration of value

 

x

 

Recording Fees

x

x

 

Credit Report

x

x

 

Prepaid Taxes and Insurance

x

x

x

Prepaid Interest

x

x

 

Hazard / Flood Insurance

x

x

 

Flood Cert

x

x

 

Title Examination

x

x

 

Title Insurance

x

x

 

Section II, Continued from Section I above

continued....

 Fee/Expense

Borrower

Seller

4% Concession

Termite Inspection

 

x

 

Mailing Fees – Refinance

x

 

 

MERS Fee

x

x

 

Loan closing or settlement fee

 

x

 

Doc Prep, UW, Processing/App Fees

 

x

 

Attorney services (other than title work)

 

x

 

Photographs

 

x

 

Interest rate lock-in fees

 

x

 

Postage, mailing, telephone calls

 

x

 

Amortization schedules

 

x

 

Escrow charges

 

x

 

Notary fees, trustee fees

 

x

 

Tax Service fee

 

x

 

Fee or commissions to buyer’s agent

 

x

 

Gifts from seller – Example: TV or microwave

 

x

x

Payoff of credit balances or judgments

 

x

x

 

If you have questions or request clairfication, contact your Colorado Home lender.

Posted by

Opinions expressed here are the sole responsibility of the author, and do not necessarily reflect the view of Fairway Independent Mortgage.

Ruth Vogt Colorado Mortgage Lender Ruth Vogt, Sales Manager

 #LMB100023827, NMLSR# 257576

 Equal Housing Opportunity. 

 Regulated by the Division of Real Estate.

   www.ColoradoHomeLender.com

   ruthv@fairwaymc.com  303-881-7849.

 

Twitter Icon           http://www.facebookloginhut.com/facebook-login/

 


by Twitter Buttons

Timer

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Mortgage / Finance

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
1,021,398
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

VA loan is difficult on the sellers. I reject all offers which are not high conventional mortage. Having a FHA loan having a good time delay delay loan.

Jun 27, 2017 10:33 PM #1
Rainmaker
5,422,762
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

This is very good information to share with home buyers and home sellers.

Jun 28, 2017 03:12 AM #2
Rainmaker
449,041
Ruth Vogt
Fairway Independent Mortgage, LLS. Equal Housing Opportunity. Regulated by the Division of Real Estate. - Colorado Springs, CO
719-592-0855 Apply 24/7 www.ColoradoHomeLender.com

Sam Shueh I am so sorry to hear that veterans are not given consideration on your listings. (I'm a lender, so forgive me for asking - especially if this is a stupid question) but aren't all offers suppose to be presented to a seller and let them decide on what offers to take?

Jun 28, 2017 05:13 AM #3
Rainmaker
449,041
Ruth Vogt
Fairway Independent Mortgage, LLS. Equal Housing Opportunity. Regulated by the Division of Real Estate. - Colorado Springs, CO
719-592-0855 Apply 24/7 www.ColoradoHomeLender.com

Roy Kelley it can get tricky remember who is allowed to pay what fees. There are the "normal, obvious" ones, but once in awhile a new one sneaks into a transaction and I have to check the charts to be sure!

 

Jun 28, 2017 05:15 AM #4
Anonymous
Nishant Gaurav

To make all the payments we can make use of the best paypal money adder which has proved to be very successful in recent past. Thanks.

Oct 27, 2017 01:00 AM #5
Anonymous
paypal money adder

Certainly its all about pp money adder

Oct 27, 2017 01:03 AM #6
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
449,041

Ruth Vogt

719-592-0855 Apply 24/7 www.ColoradoHomeLender.com
Get Pre-Qualified NOW!
*
*
*
*
Spam prevention

Additional Information