Los Angeles VA Loan Closing Costs As with other types of home loans, VA loans require you to pay closing costs. However, certain closing costs are specific to VA loans and no others. Here is what we mean: Discount points – although you’re not required to purchase discount points on a VA loan or other mortgages, you’ll pay for these at closing. Discount points enable you to lower the interest rate on your mortgage. Escrow deposit – this deposit helps borrowers fund and pay insurance and property taxes. Fees will vary based on insurance and taxes, property jurisdiction, and time of year when the home closes. Homeowner’s insurance – purchasing this insurance is required for any home loan, VA or otherwise. Part of the payment is due at closing. Lender fees – there are a few different lenders fees that may be charged at closing. These could include appraisal costs, credit report fees, flood certification, recording fees, and title fees. Origination fees – the VA imposes a 1% limit on the lender’s origination fees. If the lender charges an origination fee, the VA mandates that it pays the lender in full. VA funding fees – this fee enables VA loans to be guaranteed by the US Department of Veterans Affairs. Shannon Christenot 700 Flower St #1000 Los Angeles, CA 90017 (818) 601-2231 Hours: Monday-Saturday 9am-5pm https://www.google.com/maps?cid=5645542632766781645 https://local.google.com/place?id=5645542632766781645&use=posts&lpsid=8080492115644782156