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If you are a veteran who is looking to purchase a home using VA benefits, the only additional cost that may be rolled into your

Welcome to Joe Knows Mortgages MINUTE, where we answer your mortgage questions. On this week’s Joe Knows Mortgages MINUTE, we answer the question:  Can you

In order to fully understand your monthly mortgage payment, you need to know what other fees may be added based on your down payment. There

Annual Percentage Rate (APR) is also expressed as a percentage rate; however, it is a broader measure of the cost of borrowing the money. APR includes other charges and fees such as the interest rate, points, mortgage broker fees, and other charges that you pay to get the loan.

On a VA loan, the seller may pay all of the veteran borrowers normal and customary closing costs.  However, the VA also says that, in addition to normal and customary closings costs, the seller may pay up to 4% of the purchase price in “seller concessions”

The answer is that the VA does not require that the seller pay any specific fees.  The VA just says that there is a list of fees that the buyer cannot pay.  If the seller is required to pay fees, that would be negotiated and part of the real estate contract.