Who Pays VA Loan Closing Costs? 

One thing you forgot to mention. If you are VA disabled at 10% or above than your funding fee is $0.

Closings costs: Appraisal Insurance Taxes Underwriting (escrow title etc) Every party involved VA funding fee (form of mortgage insurance) is paid upfront/either paid as a fee, or tied into the loan. Helps them further insure mortgages. Says if you default than they’ll cover 25% of your overall loan amount back to the lender. So if you default, they pay the lender 25%. 2.15% - 2.4% depends on how much you put down. Pay it AT CLOSING, or wrap it into your loan. So ex: home is 100k, then the fee. Pay upfront or just take out a loan for 102k You aren’t allowed to pay for termite inspection, seller must pay. Have to have a full inspection done on it. $100-$150 seller or agent will pay. Loan origination charges are capped at 1%, so you can’t get screwed there. The fees are kept to a maximum. So that’s a safeguard if you will. Seller “concessions “ are capped at 4% of purchase price. Or seller “credits” Basically when you take a % of have seller give that money back to you at closing. To cover your closing costs. Lenders typically only have 1 or two fees. Most other fees are standard and 3rd party fees and come from warranty, appraisal, credit reports pulls, county, insurance company, title company

Great Video straight to the point

Just bought my first house with a VA loan. The seller covered the closing costs and what I did pay out of pocket (including the earnest money) was ultimately refunded to me. I had the funding fee waved because of my 10% service connected disability.

Just closed in Tx. I paid zero funding fee Zero closing cost and zero down.I was paid back majority of my Ernest money. It’s a new build home. Great % rate

Thanks for the information. I'm looking to Purchase a house using VA loan, in today market, since the seller require to pay the closing cost, will it harder to find a seller that willing to accept VA loan offer?

The 4 percent rule for concessions can be more than 4%. I've had va loans where closing costs exceeded more than 4%

Thanks man!

Hi I want to know how does 0 down payments affects the APR?

You left out details of having funding fee waived if you receive disability compensation

Great video very through!

Are sellers required to pay any buyer VA closing costs? If so, is it automatically put on the settlement sheet?

Thank you!!!!! I’m so concerned about the CC and anxious to move!

I'm closing in less than 2 weeks on my first VA home loan! Initially I was told by the customer service rep, they would gv me a list of inspectors that contact with the VA to do my inspection. 5 months later when I just called, another lady says the last step is an appraisal that the lender requests. I need a VA inspection, how do I find one on short notice?

Hi! I'm on the process of buying a Condo in South Florida, already under contract and awaiting for the appraisal and the home inspection. Also, made my 1st deposit for the escrow. However, I was not aware of the 4% concession for the seller to pay some cost. Is there something I can do?

Can you talk about how all of this applies to a new construction loan?

Hmmm...My husband & I are in the process of purchasing using a VA loan. I just paid for the termite inspection yesterday😖 Should I be questioning someone about why I had to pay versus the seller?

As a veteran army 1981-2004 I am using mine in 2021

Awesome video! We are in the process of home buying in SoCal (first time) and on a recent property we were offered the closing costs we’re going to be 13,000 plus dollars. Is this too much? Home was going to be 568,000. What questions should I be asking or what should I be looking into?

Got a question....on the process of buying a house. When it came to the termite inspection no one wanted to pay for it; I got into a back and forth conversation with my agent and lender. No men would budge, so I ended up paying for it. Is there anything I can do to recoup that cash?

So there is a way around closing cost? I’m wanting to buy a house but don’t got that extra cash for a closing cost.

I'm buying from a seller who will stay at the property that is now mine for an extra 3 months under a lease agreement where they are to pay my mortgage for those 3 months. How should I handle this. We are closing on June 30th. Should I ask them to sign the lease agreement and pay up front for those 3 months for me to have piece of mind? How does that work? Thanks in advance for all your content. It's truly invaluable.

You mention that for the termite inspection it needs to be pay by the seller or the realtor but I was told by my realtor that I have to pay for the termite inspection. What should I do?

What would you consider a “good rate” loan for a veteran?

I wish I I know your Chanel sooner 😞. I didn’t know about the seller to pay the 4 percent of closing cost. My seller didn’t pay any for closing cost . We paid all the closing cost. We bought the house and just done in November 3 2021. Thank you for explanation and I know right now 🙏

My partner and I are interested in buying a home using a VA loan. We’re currently renting at the moment but have been exploring our options of ways to increase our income. We’re interested in buying a home and then eventually renting it out. We’ll be moving every few years or so due to the military so I’m not sure how this works. Any tips or advice when it comes to buying a property and then renting it out?

Looking at a VA loan through Amerisave and closing costs are going to be 14,000. Is this excessive?

So I recently applied for a VA loan with quicken loan. They want me to come up with 4000 for a 200000 home loan. Didn't even approve me. Their more interested in my savings account amount which I didn't disclose because I want a zero down home loan.

What is the expected amount on a closing cost?

Looking to buy my first home in New York as a rental property. Just a wanted some information about the process. Great video !

It would be nice to point out that not putting down a down payment or adding VA FEE to mortgage loan will result in a pretty big significant amount to your overall cost.

210 day rule implemented by VA in 2018 will screw you out of using your VA loan if constructing your home. Most of these people will not tell you that. What is it? 210 days you have to wait to lock in a fixed rate, and you will have to make a minimum of 6 mortgage payments in your home. Thanks VA!

How about if you’re a 100 percent disabled. Does that matter?

I'm a veteran at 90% service connected disability, do I get more benefits

Im 60% disabled do i still have to pay funding fee and closing cost?

Why would the seller pay the $4,000 closing costs in your example?

Thank you killer

I’m a first time buyer. Am I supposed to pay for the closing cost? Or the seller has to pay for it?

Is veterans united good for VA loan?

How can you negotiate the interest rate and make sure you are getting the best rate?

At a certain disability rating they waive the funding fee, I think 30.

will the va loan also cover the closing cost??

Your exempt if your a disabled veteran.

Thats bs the funding fee an closing costs are the only actualy money changing hands in the loan. Its a scame to generate revenue from thin air

I'm about to purchase my first home using my VA loan, my realtor asked me an EMD of $3000 that eventually goes to the owing cost, now he asked about another $3000 for loan initiation fee? Does that sound right?