VA loan, Commision Rebate, Sellers Assistance? (fee, rate, refinance, FHA)

[dangelo]

How much assistance is allowed on the HUD-1 of a VA LOAN?

Is a 2% commision rebate and 3% sellers assistance doable per VA's rules?

Originally posted in RE. Advised to move here. Thanks in advance.

D.

[renriq02]

why do you need a rebate for a VA loan? you can get 100% financing...

with fha you need 3% down, but with VA it's zero down.

[dangelo]

Why do people need IPOD's, Yankee candles, StarBucks, XM, DVD's.....?

I'm fully aware that I can buy a home with 0 down with VA.

-I can also buy with a commision rebate agent and get back 2% of the purchase.
-I can also ask for _% sellers assitance in this market.

My question is does the VA LOAN HUD-1 cap out the amount of assistance one can get. If so what is the limit?

Thanks!

[Rakin]

I don't think he understood that you were wanting to collect the 2% kickback the agent was offering. You could show a little courtesy and less attitude and maybe someone would be willing to share their expertise.

[dangelo]

Actually I got my question answered from an Activerain blog.

For the good of the group: Yes it can be done.

So all you VA loan customers can generally get your closing paid or VA funding fee (in part or full) from the Agent's rebate even if you dont get sellers assistance.

[trivera]

I financed with a VA loan, with no money down. Eight mths later I was able to refinance for a lesser rate and put money down with a conventional Mtg. Can I get my funding fee back, or at least part of it. It was almost $5,000.