The short answer is yes, but let me elaborate. If you’re a veteran, active-duty member or a veteran’s surviving spouse, you’re eligible for the VA loan benefits designed to help our servicemen and women get the home they deserve after serving our country.
VA loans are guaranteed by the Department of Veterans Affairs and have a number of specific requirements – all created to give the veteran the best deal possible. While these regulations help in the long run, they can be kind of confusing sometimes.
To help explain VA loans, Quicken Loans hosted a VA Q&A Google Hangout session with experts from a variety of real estate, mortgage and veteran benefit organizations. One of the questions we received was whether there are fees on a VA loan that the veteran buyer can’t pay for.
Fees the Seller Has to Pay
There are a few different fees that must be paid by the seller, and keep in mind that each individual lender may have additional guidelines on top of those from the government.
Some of the fees that only the seller can pay are:
- The real estate agent commission
- Third party fees, such as attorneys and the pest inspection
In the video, which you can watch below, John Bell III from the Department of Veterans Affairs explains that, over the next year, the VA will be looking at their regulations and possibly changing some of the rules so that veterans will be able to negotiate some of the fees.
Check out the video by clicking here and let us know your comments and questions!
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