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When assuming a VA mortgage, does the buyer receive the benefit of restricted closing costs?

by PBateman from Souderton, Pennsylvania. Nov 20th 2012 Reply


William J Acres (William_Acres)
#74 ranked lender in Arizona - 8,728 contributions

Good question... most of the costs associated with originating a new VA mortgage are not the same type of fees that are used when someone is assuming an existing VA mortgage.. so the guidelines will still apply as to which closing costs fees that cannot be charged to the VA borrower, but most of those fees wouldn't be charged anyway since it's an assumption and not an origination.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

Nov 20th 2012
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Phil Dumouchel (PhilDu)
#32 ranked lender in South Carolina - 2,249 contributions

Good question, I expect so because the restriction is based on the financing conditions. However, either way the difference is normally pretty minimal and the "seller" still can agree to pay all or most of the buyers costs.

Nov 20th 2012
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Mark Simon (mark.simon)
#10 ranked lender in Delaware - 83 contributions

Although I see you have some good answers I am based in Pennsylvania and will be glad to help you(including the holiday weekend). Mark 302-449-7373

Nov 21st 2012
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