VA – Source of Funds: As part of the < 4% of closing costs requirement, what is considered a closing cost?

Answer: The funding fee, prepaid items, and any points paid for a permanent interest rate buy down are not considered a closing cost.  This is clarified when you read the Seller Concessions section of Chapter 8 of the VA Lenders Handbook.  The sum total of all of the Closing Cost Fees (origination, appraisal, title policy, […]

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