What are the Closing Costs on a VA Home Loan
Closing costs on VA Loans, like conventional loans, can vary. They can be dependent on a variety of items including title insurance, appraisal, closing agent fees and any regulatory or recording fees. Also, like the majority of mortgages Veteran Affairs loans require an escrow account be set up for the borrower’s property taxes and insurance. These accounts collect a portion of the taxes and insurance that are pre-paid at closing. These pre-paid items are closing costs, but are dependent on the borrower’s insurance rates and the property taxes in the area the home is located.
Please note, Florida Veterans with a 100% disability rating may be exempt from property taxes. First Choice Loan Services will not collect an escrow for taxes at closing when the Veteran is exempt. Please visit this page link for information on disabled Veterans’ benefits.
To get started on your VA Home Loan, call us at 561-810-1711 or fill out the short form on this page. A specialist from our team will contact and assist you with your VA Mortgage pre-qualification.