Monday, October 7, 2013

KENTUCKY VA ALLOWABLE CLOSING COST


Closing Costs that CAN be Paid by the Veteran:


Appraisal Fee Recertification of Value Fee
Buydown Fee Recording of Deed
Compliance Inspection Recording of Mortgage
Credit Report Release Fee – Refinances Only
Discount Points Repairs listed on appraisal **
Documentary Mortgage Stamps Repair Inspection – Refinances Only
Flood Certification Septic Inspection Fee
Hazard Insurance Survey
Intangible Tax Title Insurance including: Abstract, Binder & Exam
Origination Fee – 1% Max * VA Funding Fee
Pest Inspection – Refinances Only*** Water Test Fee


Closing Costs that CANNOT be Paid by the Veteran:

Attorney Services (other than title work) Postage, Fax, Phone, Copy of Courier Fees
Broker Fees Sales Commissions
Pest Inspection on Purchase*** Realtor/Lender Transaction Fee
If the Lender DOES NOT charge any Origination Fee, the following costs that the veteran normally cannot pay, can be paid but limited to a collective max amount of 1%:
Amortization Schedule and Photos Recording Fee for Satisfaction – Purchase
Application Fee Recording of Assignment of Mortgage
Attorney Fee Repair Inspection – Purchase
Closing or Settlement Fees Tax Service Fee – (TRETS)
Deed Stamps Transaction Fee (Non-Realtor/Non-Lender cost)
Doc Prep Fee Transfer Fee
Lender’s Inspection Fee Underwriting Fee
Notary Fee

** The Veteran can pay any and all repairs listed on the appraisal as





Joel Lobb (NMLS#57916)
Senior  Loan Officer
502-905-3708 cell
502-813-2795 fax
kentuckyloan@gmail.com

Key Financial Mortgage Co. (NMLS #1800)*
107 South Hurstbourne Parkway*

Louisville, KY 40222*

KENTUCKY VA LOAN ALLOWABLE CLOSING COSTS LIST