What Are The Itemized Fees You Can Expect To Pay
Posted on June 24, 2009
Filed Under Lenders, Loans |
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There are a number of itemized fees and charges that make up loan closing fees. Some of these fees have to deal with initial acceptance of the applicant while others involved the paperwork, insurance, and survey among other things. Below is a list of the most common types of VA loan closing fees.
• Appraisal and compliance inspections
• Recording fees
• Credit report
• Hazard insurance
• Survey
• Title Examination and Insurance
• Flood zone determination (This may be assessed to the veteran to determine if their property is located in a special flood hazard area. These rulings are made by neutral third party providers.)
• Prepaid items (These fees include those that the veteran can pay a select point of like taxes, assessments, and similar items for the current year. Not only are there these costs but the deposit that goes towards paying for both tax and insurance accounts.)
• VA funding fee (Veterans are required to pay these fees unless they fall under established exemptions.)
These are the standard types of itemized fees you will have to pay if you have obtained a VA loan.
