What fees should I expect to pay for my VA Loan?

Video Transcript

What fees should I expect to pay for my VA Loan?

The VA has a cap on the fees that veterans can pay to obtain a VA Loan. Generally, VA lenders are allowed to charge a 1% origination fee plus another percent to cover administrative and other costs. On a VA loan, sellers can pay up to 6% of the borrower’s closing costs and concessions.

The one charge most VA borrowers can’t escape is the VA Funding Fee, a mandatory cost that helps keep the home loan program running. This fee is automatically financed into your loan, so you don’t have to pay it out of pocket. Borrowers with a service-connected disability can receive an exemption from the VA Funding Fee.

For more information, please call Veterans United Home Loans to speak with a VA Loan Specialist.