Can closing costs be rolled into a VA loan?
Love our videos? Then you'll love working with us even more!
=====================
Video Description:
One of the unique benefits of the VA loan program is the ability to roll closing costs into your total loan balance. However, which costs you can roll in does depend on what type of VA loan you're getting.
On purchase loans, you can only roll the VA funding fee into your balance. For a cash-out refinance, you can roll any and all of your closing costs in, as long as the total loan amount doesn't exceed 100% LTV. (Not sure what LTV is? Check out this video: • What is LTV, and how does it affect m... !) Finally, with an IRRRL (or VA streamline), you can roll ALL of your closing costs into the loan balance, with the exception of discount points that exceed 2%.
So, there you have it. Closings costs CAN be rolled into your VA loan. Go ahead and give us a call. We'll help you set up your VA home loan in the way that's best for you.
=====================
To learn more about cash-out refinances and how they work, go ahead and give this video a watch: • What is a VA cash-out refinance, and ...
For more information on the VA funding fee and how it can get affected by different down payment amounts, check out this video: • How much is the VA funding fee?
=====================
About Low VA Rates:
Low VA Rates is a VA-approved mortgage lender that was built out of a desire to help veterans access their VA home loan benefits. With over 10 years of experience specializing in the VA loan, you can trust the Low VA Rates team to help you find a mortgage with great rates and terms.
=====================
Give us a call today! 844-326-3305
Not ready to call? Text us! 385-257-3266
=====================
Want more from Low VA Rates? Like, subscribe, and follow us to stay connected with the latest VA home loan info. Archived video notice: This video is not current and may contain content that, while accurate when recorded, may not reflect current market conditions. As is customary on the YouTube platform, older videos remain in our account for transparency and statistical purposes, and we do not necessarily have control over which older archived videos YouTube’s algorithm may suggest for you. For that reason, please always check the date of a video to ensure that it is dated recently before relying on its contents. The mortgage market is very dynamic and laws, regulations, rates, and programs are always changing. If we have a more up-to-date video on the same subject, you should be able to sort our videos by date uploaded on our main channel landing page: / lowvarates . This video is not applicable to borrowers in the State of Washington.
This video is not intended for residents or homeowners in the states of NY or MA.