What are typical closing costs on a VA loan?
VA charges a 2.15% VA Funding Fee that is a percentage of the sales price and/or final loan amount. This fee is financed as part of your mortgage so that you do not have to pay this in cash at closing. This fee is waived if your percentage of disability is considered 10% or greater by the military. This fee could be greater than 2.15% if you have utilized your VA Eligibility on a home loan previously. There are other necessary third party closing costs that are specific to each transaction but VA has some guidelines regarding these costs. Your best bet to get an accurate account of probable closing costs for your transaction is to contact us and let us go through the information with you.
