Rates and Costs of VA Loans
You can expect this loan program to offer competitive interest rates and reasonable costs.
Limited VA Loan Fees
The Department of Veterans Affairs limits the fees that can be charged on VA home loans. Allowable fees include:
- Origination Fee of 1%
- VA Funding Fee (unless exempt)
- Reasonable Interest Rate Discount Points
- VA Appraisal Fee
- Credit Report Fee
- Prepaid Fees for Escrow (e.g. taxes, insurance, etc.)
- Any Other Closing Costs (e.g. title insurance costs, recording fees, etc.)
Did you know? You or your real estate agent can ask the seller to pay most of these fees in your purchase offer. If agreed, the seller can pay up to all your closing costs and 4% concessions.