Does the VA help protect me against excessive fees associated with the mortgage process?
The VA does restrict certain types of fees that can be charged to the veteran though the VA loan process, normally referred to as non-allowable fees. Under no circumstance can the veteran pay for such fees; however, the VA lender is authorized to charge up to a 1% origination fee equal to 1% of the loan amount to cover such fees. If the non-allowable fees total more than 1% either the lender or seller must cover these excess fees. As a direct VA Lender we very rarely charge the 1% origination fee. Contact one of our VA Specialists for more information.
