Home Loan Information
Many people spend a great deal of time looking for
their home, but neglect to spend much time
researching their home loan. The home loan will be a
larger purchase than your home, so it is advisable to
educate yourself and get as much help a possible when
determining what type of loan to get and what lender
to use. The sites below will help you find the best
rates on a home loan and provide answers to any
questions you might have.
Get a variety of home
loan information from Interest.com. They provide a
plethora of Home Loan information as well as other
information regarding new home purchases. The site
will help you ensure that you get the best deal on
your home and your home loan. Plus, there is a Home
Buyer's Guide that is available for download and will
provide you with valuable home buying tips.
|
|
Home Loans
Home Loan for
Australians. Get a variety of information on a home
loan if you are located in Australia.
You can find Home Loans by state and other state
financial information at Propel Home Loans.
Check out the Freddie Mac site for a variety of
information about home loans. Freddie Mac was
chartered by Congress to help ensure there is money
for lenders to loan for families to purchase homes.
|
VA Closing Costs
The typical closing
costs associated with a VA loan include the
following:
- Reasonable
amounts for any or all of the “Itemized
Fees and Charges” designated by the VA.
- A 1% flat fee
charged by the lender.
- Reasonable
discount points
- The VA funding
fee
|
“Itemized Fees
and Charges” may include the following:
- VA appraisal and
compliance inspections of the property (The
veteran cannot pay for an appraisal requested
by the lender or seller.)
- Recording
Fees
- Credit
Report
- Prepaid
Items
- Hazard
Insurance
- Flood Zone
Determination
- Survey
- Title Examination
and Title Insurance
- Special Mailing
Fees for Refinancing Loans
- Other Fees
authorized by the VA
|
The 1% lender’s
flat fee is designed to reimburse the lender for all
fees and costs not covered in the “Itemized Fees
and Charges”. Examples of items that would fall
within the realm of this fee are as follows:
- Lender’s
appraisals and inspections, except in
construction loan cases
- Loan closing or
settlement fees
- Document
preparation fees
- Preparation of
loan papers or conveyance fees
- Attorney’s
service that does not include title
work
- Photographs of
the property
- Interest rate
lock in fees
- Postage or other
mailing charges, telephone calls, etc.
- Escrow fees or
charges
|
