VA loans

i need help · Joined: 06 Jun 2005 Posts: 2

What type of fees are asseses on a VA refi. Not the $amount, but things like appraisal, escrow, etc.

chow · Posted: Thu Jun 23, 2005 4:48 pm Post subject:

Escrow's are fee's that are based on your local tax, insurance, and recording offices. VA loans have set Funding amount, and then each lender, has an underwriting amount, and then when it comes to escrows....

Your homeowner's insurance gives you that, Your Real Estate taxes are figured on you county, city, state. You have to have 12 months up front and 2 months in escrow for Home owners insurance with most lenders. Then you have to have at least two months in escorw for taxes on the real estate, but if this is a purchase, the seller could pay some of that. Are the taxes pro-rated?

"You're kind of really VAUGE with this question." Even If I know where you lived, I would have to know your charges for homeowners, who your lender was, and what they required for escrow set ups.

If you want to visit the funding fee amounts, just tell us if this is a refi, a purchase, or did you sell the first home on a VA loan-assumption and need to know the funding fee for that?

There is no easy answer to escrows on ANY loan. They change everytime your taxes change, and you change homeowner's policies. If you don't file exemptions, then you will pay more too.

At the risk of being too honest, I think I may have over answered your question. :shock: So, what is it, you really want to know?

Haplo · Joined: 20 Jan 2005 Posts: 2422 Location: Springfield, IL

I skipped over chow's post because I know what she said basically and I'm going to simplify it for you.

Be more specific. If you want a good answer you need to provide details.

Also, and this is just personal preference, but if you want to be taken seriously try to provide some information about who you are. My account name reflects nothing about me personally, but I explain who I am in my signature. Your posting name says you need help, but so far we can only dream about what you need help with.

If you work for a company (which I believe you said you're new to the industry in another post) then ask your boss. If you only do Virginia loans, you better get a handle on that real quick! If you do other states as well, chances are that there is somewhere in your company you can go to find this information.

In my experience the lazy people in this industry don't make it very long. Don't sit back and expect people on a message board to do all your work for you. Nothing can substitute for your own, well searched for knowledge.

chow · Posted: Fri Jun 24, 2005 1:33 pm Post subject:

Haplo,

You dawg. :lol:

Haplo · Joined: 20 Jan 2005 Posts: 2422 Location: Springfield, IL

Haha, I just read through some of Chow's post and I think I got it pretty well ;)

Chow, coming from you, I'll take that as a compliment Miss Puppy Chow :)