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#118773 - 03/29/06 05:38 AM va loans**help
LVLV Offline
Member

Registered: 04/19/05
Posts: 193
Loc: LAS VEGAS, NV.
when getting a va loan say house is 400k and put 100k douwn what are the sellers cost for that roughly?? thanks*****

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#118774 - 03/29/06 06:16 AM Re: va loans**help
greg4mtgs Offline
Member

Registered: 02/20/06
Posts: 92
Loc: Palm Beach County, Fl
First off, why in the world would you do a va loan on a 75% LTV deal.

The sellers costs are essentially the non allowables.

Here are a few


Loan Application Fee
Processing Fee
Lender's Administrative Fee
Document Preparation Fee (unless the documents were prepared by a company other than the lender)
Documentary Transfer Stamp Tax
Attorney's Services (other than title work)
Interest Rate Lock-in Fee
Postage/Delivery Fee
Loan Tie-in Fee
Photo Fee
Notary Fee
Underwriting Fee
Escrow Fee
_________________________
"The truth the whole truth and nothing but the truth"

www.CommunityMortgageFL.com

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#118775 - 03/29/06 06:23 AM Re: va loans**help
Greg Phillips Global Moderator Offline
Mortgage Professional
Veteran Member

Registered: 01/26/05
Posts: 1123
Loc: Chillicothe, Ohio
What state are you in?
_________________________
Greg Phillips
Manager
Fairfield Mortgage Company
"Servicing all 50 states"
Web: Home Forums Blog

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#118776 - 03/29/06 07:44 AM Re: va loans**help
lenderpro Offline
Junior Member

Registered: 03/29/06
Posts: 5
Loc: Tampa,FL
A VA loan is helpful if you require 100% financing. If you are putting 100k down a VA loan is the last type of loan you would consider. You will not have to pay a funding fee.
_________________________
H.D. Hill
Homestead Mortgage LLC
"Florida's Premier Mortgage Lender"
813-385-7195

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#118777 - 03/29/06 09:34 PM Re: va loans**help
LVLV Offline
Member

Registered: 04/19/05
Posts: 193
Loc: LAS VEGAS, NV.
Ok thanks I thought I messed up and wrote the offer conventional and then thought and assumed they were doing a va loan because they were retired in the military.. I was worried we would have to explain we messed up on the offer but just got confirmation today that it wasnt a va loan .Thank good ness. seller wouldve had to pay some lenders fees. That wouldve messed up the whole deal. Dont know much about va loansthankss ...

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#118778 - 03/30/06 07:17 AM Re: va loans**help
AZLender Offline
Member

Registered: 02/20/06
Posts: 495
Loc: Mesa, Arizona
I would suggest staying away from them (VA loans) until you have been properly trained.
_________________________
Mesa Foreclosures

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