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What are VA non-allowable fees?
When completing an AZ purchase contract for a buyer who is using a VA loan for financing you will need to know how much to request for VA non-allowable fees. But first you need to understand the basic premise of what VA non-allowable fees are…..
We recommend requesting a seller credit for VA non-allowable fees of $1,500 to ensure they don’t exceed the 1% threshold. BUT if you are in a competitive situation DO NOT lose a home for your Veteran buyer. You can decrease your seller credit request to $600.00 to cover the settlement fee and the remaining fees should not exceed 1% unless the loan amount is very low in this case please consult with your mortgage consultant.