VA Loan – Costs Paid By Seller

The most common financing question related to the AZ Residential Real Estate Contract is "what fees does a seller have to pay on a VA loan/offer?"  The short answer now in Arizona is almost always going to be $0 (see below for more).  There are 2 fees leading the pack causing uncertainty. ESCROW FEE   TERMITE REPORT FEE Learn more about who pays for VA Closing Costs Escrow Fee In the old AZ Real Estate contract lines 83-85 required seller to pay the escrow fee on a VA home loan (see … [Read more...]

VA Appraisal Fee Arizona Increased

The Arizona VA Appraisal Fee paid by veterans using a VA home loan is set by the VA.  Recently, the Arizona VA appraisal fee increased and was effective December 1, 2016. Arizona VA Appraisal Fee Rises The Arizona VA Appraisal Fee is now set by the VA at $600.  The $600 fee is for a VA interior/exterior appraisal on a single family home in Arizona. VA appraisers still have 7 business days in Arizona to complete an appraisal report.  When a VA appraisal cannot be completed in 7 business … [Read more...]

VA Appraisal Turn-time & Mondays

A VA home loan is one of the best mortgage products available today.  The VA appraisal process however is not quite as amazing.  Using a VA home loan requires strategic appraisal planning to ensure an on time closing.  Your VA loan officer should quarterback the game plan from day one.  Otherwise, miscalculating the VA appraisal process will create closing delays. Apply for a VA Home Loan Now 602.435.2149 In order to set the stage, it is important to understand that … [Read more...]

HOME in 5 DPA Program Changes Fees

HOME in 5 underwent major changes in response to the Office of the Inspector General’s (OIG) recent investigation.  The changes in this case were much simpler than the changes for HOME PLUS a few months prior.  The OIG disapproved of the Home in 5 discount point charged to borrowers at closing by the lender.  As a result, the Home in 5 Down Payment Assistance ("DPA") to remove the 1% discount fee.  The grant amount lowered by a matching e 1%.  The Home in 5 grant equals 4% of the … [Read more...]

Delays in VA Home Loan Processes

Low mortgage rates, great home prices and summer weather add up to one thing - a high demand housing market.  Veterans looking to use their VA home loan benefits are not immune from this frenzied housing cycle.  More veterans are taking advantage of the amazing benefits that the VA offers them through the utilization of a VA mortgage.  However, what impact does the traffic jam of Veteran buyers have on the VA Mortgage process?  Ordering certain VA related items may take just a bit longer … [Read more...]