Anyone Have a List of Closing Costs a VA-backed Loan Does Not Allow For? (documents, agent)

[kiplingif]

I was preapproved for a mortgage by Navy Federal Credit Union recently.

At this website: https://www.benefits.va.gov/homeloan...o_loan_fee.asp
, the 3rd bullet under "VA Home Loan Advantages" says:


"VA rules limit the amount you can be charged for closing costs."

This page references some costs as well: https://www.benefits.va.gov/homeloan...o_loan_fee.asp , but only specifies restrictions on the termite report:
VA rules limit the amount you can be charged for closing costs.

Anyone know where I can get a full list? My efforts to find one on the va.gov website have failed so far.

The reason I ask is that a non-official, third party site here has a long list of things it claims cannot be charged due to VA guidelines:
https://www.militaryvaloan.com/va_loan_closing_cost.htm

The second one on the list in that section caught my eye:

Escrow Fee/Settlement Fee/Closing Fee

The VA does not allow the veteran to pay an escrow fee. The escrow fee varies greatly and can be quite expensive, so this is a great benefit to the VA loan. Although the veteran does not pay for the escrow fee, it’s good to know what the escrow company does.
The escrow company is responsible for collecting and distributing all monies involved in the transaction. Escrow will receive the earnest money, any wired amounts from banks, down payments from the buyer, closing cost assistance from the seller, etc. The escrow company then divvies out the money to the appropriate parties — real estate agent commission checks, the seller’s current lender, the seller, etc.
In addition, the escrow company makes sure all parties sign all the final loan documents and sale documents. When it’s all said and done, the escrow company sends documents to the county or jurisdiction to record the sale.

The reason it caught my eye is that, after getting pre-approved for the NFCU loan, I got a title fee quote from Navy Federal Title Services that included, "Settlement or closing fee [from Borrower]: $475."

Obviously, having that removed would be cool. But citing a third-party, non-official site for it seems silly, haha. I called the militaryvaloan.com people, who had no source for the claims on that page. But it still made me wonder where I might find the list so as to insure I was not charged for something I should not be.

Or will the VA have to chop on the title services anyway, and that is where adjustments would be made and it is nothing I'd have to worry about?

Related question, if taking the NFCU mortgage loan, is there any real reason not to use the Navy Federal Title Services company?

Thanks for any help as I am a first-time buyer. I do have a realtor, but I like to educate myself along the way too.

[Diana Holbrook]

Talk to your lender. Really the best source of information about your loan.

[kiplingif]

Originally Posted by Diana Holbrook

Talk to your lender. Really the best source of information about your loan.

Oh, so it would be the lender (NFCU) in charge of keeping the title company (Navy Federal Title Services) in line and not charging me something they should not? That seems a bit like trusting the fox to guard the henhouse. But if that is how it goes, that is how it goes. Thanks so much for your time.

[Silverfall]

VA buyers can have escrow fees. That is an allowable fee. Here is the list from the handbook.

[kiplingif]

Originally Posted by Silverfall

VA buyers can have escrow fees. That is an allowable fee. Here is the list from the handbook.

This is amazing and just what I was looking for. Thank you very much!

[Pfhtex]

Originally Posted by kiplingif

I was preapproved for a mortgage by Navy Federal Credit Union recently.

At this website: https://www.benefits.va.gov/homeloan...o_loan_fee.asp
, the 3rd bullet under "VA Home Loan Advantages" says:


"VA rules limit the amount you can be charged for closing costs."

This page references some costs as well: https://www.benefits.va.gov/homeloan...o_loan_fee.asp , but only specifies restrictions on the termite report:
VA rules limit the amount you can be charged for closing costs.

Anyone know where I can get a full list? My efforts to find one on the va.gov website have failed so far.

The reason I ask is that a non-official, third party site here has a long list of things it claims cannot be charged due to VA guidelines:
https://www.militaryvaloan.com/va_loan_closing_cost.htm

The second one on the list in that section caught my eye:
The reason it caught my eye is that, after getting pre-approved for the NFCU loan, I got a title fee quote from Navy Federal Title Services that included, "Settlement or closing fee [from Borrower]: $475." This is allowable.

Obviously, having that removed would be cool. But citing a third-party, non-official site for it seems silly, haha. I called the militaryvaloan.com people, who had no source for the claims on that page. But it still made me wonder where I might find the list so as to insure I was not charged for something I should not be.

Or will the VA have to chop on the title services anyway, and that is where adjustments would be made and it is nothing I'd have to worry about?

Related question, if taking the NFCU mortgage loan, is there any real reason not to use the Navy Federal Title Services company? No, Title fees will be identical regardless of which Title company is used, and the seller of the property chooses the Title company.

Thanks for any help as I am a first-time buyer. I do have a realtor, but I like to educate myself along the way too.

The best advice here, I think , is to find a lender you trust, and trust them. There is no way you will pay for a non-allowable fee, and lenders can't game the system.

It's lengthy and convoluted, and it starts on page 2: https://www.benefits.va.gov/WARMS/do...okChapter8.pdf

[2bindenver]

This is probably the buyer paid lender title policy