Veterans Benefits Network

Veterans Benefits Network

If the lender has been approved under the Veterans' Lender
Appraisal Processing Program, the lender may review the
appraisal completed by a Veteran assigned appraiser and
close the VA loan on the basis of that review. The LAPP
process can further speed the time to VA home loan closing.



Under Veterans Benefits, a funding fee has to
be paid by everyone except veterans who are exempt from this
fee. The funding fee will be reduced in proportion with the
deposit provided.There are similar discounts on
funding fees payable by Reserve and National Guard veterans.
Funding fees can be paid in cash, or may be included in the
Veteran loans themselves.

In addition, Veteran loan providers are permitted to charge
reasonable closing costs where necessary.It is not
permitted to include these costs in the Veteran home loan
amount itself. Closing costs can vary between finance
companies as well as between the States because of
differences in local laws.



Veteran loans'
costs may include fees for appraisal, credit report,
title search and insurance, to name some of the more well
known charges. However, it is not allowed to charge the
veteran any


commissions
or brokerage fees.


The following link will take you to a site
which provides veteran loa