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JennB
My princess <3
Member since 5/09 2473 total posts
Name:
Jenn
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Those with a VA Loan - Closing Costs?
I'm trying to read up on VA loans since DH is eligible. I saw that one benefit is a limit on closing costs. If you have a VA loan, and you don't mind sharing, what were the closing costs. TIA!
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Posted 1/20/12 10:14 PM  |
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Prudential Douglas Elliman Real Estate
Long Island's Largest Bridal Resource | Long Island Weddings |
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Re: Those with a VA Loan - Closing Costs?
You have FM
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| Posted 1/20/12 10:25 PM |
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WannaBeAMom11
LIF Adult
Member since 1/11 7391 total posts
Name:
Name
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Re: Those with a VA Loan - Closing Costs?
Posted by CookieMomster
You have FM
Can you FM me too I am interested in knowing this answer as well. Thanks
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| Posted 1/21/12 12:09 PM |
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Re: Those with a VA Loan - Closing Costs?
Posted by WannaBeAMom11
Posted by CookieMomster
You have FM
Can you FM me too I am interested in knowing this answer as well. Thanks
you have FM
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| Posted 1/21/12 12:46 PM |
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neener1211
:-)
Member since 4/07 22952 total posts
Name:
J
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Re: Those with a VA Loan - Closing Costs?
We rolled the closing costs into our mortgage. There is a standard fee for having the mortgage, which allows you NOT to pay PMI. That amount is $6750, but I was told most people roll that amount into the loan, which we did.
Our down payment was around 9k, which we used towards anything we needed to pay at closing. I think they considered this a concession. I forget all the lingo at this point.
All I know, is that we put down less than 9k at contract, and our mortgage amount to be paid off is at the amount the sellers accepted for the house, plus $6750. We only had to bring around $1200 to closing, so I'm thinking the total closing costs were around 10k.
Does that help?
If you need a recommendation for a mortgage guy with Wells Fargo, he was very good with the mortgage, explained everything to us, and was very knowledgeable about the VA process. More knowledgeable than the other 2 people we tried to go to.
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| Posted 1/21/12 3:28 PM |
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Re: Those with a VA Loan - Closing Costs?
Posted by neener1211
We rolled the closing costs into our mortgage. There is a standard fee for having the mortgage, which allows you NOT to pay PMI. That amount is $6750, but I was told most people roll that amount into the loan, which we did.
Our down payment was around 9k, which we used towards anything we needed to pay at closing. I think they considered this a concession. I forget all the lingo at this point.
All I know, is that we put down less than 9k at contract, and our mortgage amount to be paid off is at the amount the sellers accepted for the house, plus $6750. We only had to bring around $1200 to closing, so I'm thinking the total closing costs were around 10k.
Does that help?
If you need a recommendation for a mortgage guy with Wells Fargo, he was very good with the mortgage, explained everything to us, and was very knowledgeable about the VA process. More knowledgeable than the other 2 people we tried to go to.
This was exactly what we did based on Neener's rec! And we ended up walking into closing owing nothing. Ours were 9k.
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| Posted 1/21/12 4:20 PM |
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