Estimated VA closing costs for buyers -buyers getting a VA loan

BUYER’S CHARGES (buyer getting a VA loan)

1. Purchase Price
2. Mortgage Title Policy
3. Miscellaneous Title Endorsements as Required by the New Lender (see title commitment)
4. Recording Fees
5.. Tax Certificate
6. Doc Fee (.01 cent per $100 of sales price)
7. Insurance Reserve Account*
8. Tax Reserve Account
9. VA Funding Fee*
10. Loan Origination Fee*
11. Discount Points*
12. Premium for Hazard Insurance
13. Survey*
14. Credit Report*
15. Appraisal Fee*
16. Interest on New Loan*
17. Miscellaneous Loan Fees per New Lender*
18. Express Mail Fees (if applicable) *

*Amounts Determined by the New Lender Note: Seller can pay all closing costs and pre-paids for the buyer if agreed to all parties in the sales contract.

Comments

Post a Comment

Popular posts from this blog

Why Are So Many Trees Dying in Colorado?

Image
On a recent trip on I-70 to evaluate some land for a client, I was confronted with sad but beautiful image of red forests stretching for miles across the hills. The image of a red "evergreen" contrasting against the green scenery is mesmerizing at first until you take a closer look at red death destroying millions of trees in Colorado. Beetle epidemics across the western United States are becoming more obvious every season with entire landscapes turning red and brown as trees die. In northwest Colorado the beetle epidemics, triggered by extended drought in aging forests, are intensifying at an alarming rate, and there is little that can be done to stop them. Actions can be taken to protect high value areas such as ski areas, developed campgrounds and trees in people’s yards. Hastening Death: Pine beetles carry a fungus on their body and legs. Once they enter the tree, the fungus multiplies and spreads. This blue stain fungus blocks the transport of water up the tree’s trunk ...
Read more

Millennials Striking Out on Their Own (Born 1980 1995)

Image
Household formation could soon be turning a corner, if young adults living with their parents started moving out to form their own households, according to a client note from Capital Economics. Household growth has been abnormally low at about a half a million since 2008. But growth is estimated to have risen to 1.7 million in 2014, up from 400,000 in 2014, according to the Census Bureau's latest Homeownership & Vacancy Survey. Read article   - Realtor Magazine
Read more

Different Loan Types

All mortgages can be divided into two main categories: conventional and government loans. Additionally, each of the various mortgage programs can be classified as fixed rate loans, adjustable rate loans, or a combination of the two. In this technical bulletin, we’ll discuss government and conventional loans, including conforming vs. non-conforming loans. Government vs. Conventional Loans About 20% of all home loans in the U.S. are insured or guaranteed by an agency of the federal government and are considered government loans. The remaining 80% of residential mortgages are referred to as conventional loans. GOVERNMENT LOANS FHA Loans: The Federal Housing Administration (FHA), which is part of the U.S. Department of Housing and Urban Development (HUD), was established in 1934 during the Depression in order to stimulate the U.S. housing market. The FHA administers various mortgage loan programs, although the FHA is not a money lender; instead it issues federal insurance against losses to...
Read more

Centennial is a Home Rule City by a 2-1 margin

The unofficial results from the June 10 mail-in ballot show the measure to institute Centennial's proposed home-rule charter passed resoundingly by a greater than 2-1 margin."My biggest comment is woohoo!" said an elated Cathy Noon, chair of the elected Centennial Charter Commission, which drafted the municipal constitution."I just want to say this is the most wonderful news for all of us," she told a roomful of cheering commissioners, city officials and other home-rule supporters at a victory party.The mood there already was ecstatic by 7:30 p.m., when initial results showed the charter passing by some 7,000 votes - a far cry from the razor-thin 316-vote margin that created the charter commission last November.Many on both sides of the contentious debate over home rule had predicted a close call either way, and few were certain that the charter would pass at all."I thought it would be closer than this," Noon said. "But I started to get a feeling ...
Read more