Interest Rate Reduction Refinance Loan: Closing Costs

Closing costs normally associated with an Interest Rate Reduction Refinance Loan (IRRRL)

  1. Origination Fee *
  2. Discount Points
  3. Prepaid Taxes and Hazard Insurance
  4. Title Examination Fee
  5. Title Insurance Fee
  6. Flood Zone Determination
  7. Environmental Endorsements
  8. Recording Fees
  9. Special Mailing Fees (Example: Fed-Ex or Courier Fees)
  10. VA Funding Fee

*The loan origination fee is limited to 1% of the loan amount. The lender may charge this flat fee or itemize the following fees not to exceed 1%:
- Application and Processing Fees - Document Preparation Fee - Loan Closing or Settlement Fee - Notary Fees - Interest Rate Lock-In Fee - Tax Service Fee - Reconveyance Fees - Commitment or Marketing Fees - Trustee’s Fees or Charges

This is not an all exclusive list of fees and charges. If you have any questions concerning fees and charges on a VA Loan, contact the your regional VA loan center.

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Paycheck Chronicles

13 March 2015 Military Pay

Payday is coming, and the website traffic makes it seem like people are really anxious for it.  The next regular, active duty military payday is Friday, 13 March 2015.  The specific date and time that you will see your deposit will depend on the policies and practices of your bank or credit union. One Business Day Early […]

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