VA Loan fees

Fee Description

Estimated Range

Buyer pays

Seller Pays

Junk Fee

Comments

Application Fee

Varies by lender

X

This is a junk fee, you should never pay to apply.

Attorney Fees

Varies by lender

X

Applicable in some states

Appraisal Fee

$300 - $500

X

$400 Paid at closing or time of Appraisal

Brokers Fee

0-2%

X

Charged by the mortgage provider for originating your loan.

Rate buy down fee

Varies

X

When applicable

Closing fee / Settlement fee

$150-$350

X

Paid to the lender and/or title company to process the closing documents.

Courier Fee

$20-$40

X

Costs of mailing documents

Credit Report fees

$10-$50

X

Paid directly to the credit reporting company used to pull your credit.

Commission Fee (Realtor/Broker)

1% - 6% of sales price

X

As a buyer you don’t pay real estate agent commissions even if you have your own agent.

Commitment fee / Escrow

$500-$2500

X

Compliance Inspection

X

Discount points

Same as rate buy down fee

X

Optional, depending on rates and loan amount

Document Prep Fee

$200-$600

X

This is a part of doing business and should not be paid.

Escrow Closing fees

$150-$350

X

Same as settlement fee.

Flood Certification fees

$20

X

Required in some areas

Home Inspection

$250-$750

X

Optional to the buyer, paid at time of inspection

Interest Rate lock fee

Varies

X

You should never pay a fee to lock your rate.

Lenders Inspection Fee

$100

X

Typically applies to new construction.  Paid to the appraiser to re-inspect the property once it is complete.

Marketing Fees

Varies

X

This is part of doing business. You should not pay marketing fees.

Notary Fee

$20-$50

X

Some closing departments have to pay a notary to notarize the necessary documents.

Loan Origination Fee

0-1%

X

1% is the maximum you can be charged. Some lenders charge a flat rate.

Postage Fees

$25

X

This is the cost of doing business, but overnight delivery is costly and adds up. Some lenders charge it.

Photographs/Photo Copy fees

$50-$100

X

Very uncommon.

Preparing loan papers fee

Same as processing fee

X

This is a junk fee. Anything administrative is included in the cost of doing business and should not be paid by the buyer or seller.

Pre-paid taxes and insurance fees

Varies on day of month, loan, interest rate

X

These aren’t closing costs – they are pre-paids.

Pre-Payment Penalty

X

Should not be one, Junk.

Processing Fee

$200-$500

X

This is an acceptable fee for processing a loan.

Real Estate Broker fee

Same as commission

X

Same as Realtor commission.

Recording Fees

$50-$200

X

Paid to the county records office to record your mortgage and deed.

Survey

If required $150-$300

X

Required if any changes have been made to the property affecting its boundaries.

Tax services fee

$80

X

Cost of ensuring your taxes paid and never delinquent.

Termite certification

$50-$100

X

Not always required

Title Exam Fee

$50-$80

X

Paid to the title company to review your title search.

Title Insurance

Varies per transaction

X

Protects the lender and the buyer in the event there are any “clouds” or liens on the property.

Underwriting Fee

$200-$900

X

Paid to the lender to approve the loan file.

VA Funding Fee

0-3.3%

X

Depends on loan amount and consecutive uses of VA loan benefits.

Wire Fee

$29-$50

X

Fees charged to move money from the investor/bank to Title company, sellers bank, and/or mortgage servicer.