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| Listed below are the normal closing costs associated with VA mortgage
loans. These costs are disclosed to the customer on the Good Faith Estimate
of Settlement Charges made pursuant to the requirements of the Real Estate
Settlement Procedure Act (RESPA). These cost are only estimated in most cases.
Exact cost are disclosed at closing of the Loan. All cost are subject to
change at any time.
LOAN ORIGINATION FEE 1% of total amount financed APPRAISAL $ 2@0.00 CREDIT-REPORT $50.00 LENDERS INSPECTION FEE (If applicable) $50.00 TAX SERVICE FEE (Paid by Seller) $69.00 ATTORNEY FEE Set by attorney TITLE INSURANCE PREMIUM $ 3.00 per thousand dollars TITLE BINDER FEE $15.00 RECORDING FEE $25.00 SURVEY $225.00 VA FUNDING FEE *See Chart/Normally financed FLOOD CERTIFICATION FEE $21.00 DISCOUNT POINTS (if applicable) 1 point = 1% of total loan amount financed These cost do not include prepaid or escrow cost. They too are part of loan closing cost and are collected at closing. PREPAIDS= 14 months homeowners insurance, 4 months property taxes and daily interim interest *(depending on the day of the month the closing takes place). *Interim Interest = Loan amount X interest Rate divided by 365 for daily interest. **Seller is allowed to pay all of the veteran's closing cost and prepaids. |
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