I asked VA loan for 169,000.00 loan approval paper continues to go up, is this normal?

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I am making offer for home and asked 169,000.00 loan while preparing offer papers LSR sheet shows loan amount 171,000.00 loan officer said he had to add VA funding fee and loan can get up to 173,000.00 with home insurance etc. This is frustrating , is this normal, couldn't he just give loan 169,000.00 with all this already included?

I asked VA loan for 169,000.00 loan approval paper continues to go up, is this normal?

What you haven't mentioned is one very important CRITICAL piece of information...what is the HOUSE you are buying, selling for?

There is a 2% VA funding fee that is required on all first-time VA loans. It should be 2% of the loan amount and VA allows you to roll the closing costs into the loan.

The funding fee is ON TOP of the requested loan amount.

Understand that VA is the most restrictive loan program as far a "junk fees", even moreso than FHA, so as long as you are OK with the interest rate it would be very difficult for them to rip you off.

I asked VA loan for 169,000.00 loan approval paper continues to go up, is this normal?

Correct, it can. I wish you luck. I believe that disabled veterans can never receive too many benefits and they deserve everything they get :) Report It

I asked VA loan for 169,000.00 loan approval paper continues to go up, is this normal?

This is the way VA loans are structured, the funding feee is added to the loan amount as an additional item financed unless either the borrower or seller, as a concession, wants to pay the cost of the funding fee at closing. Financing the funding fee, etc. allows the buyer the beneift of the interest write off on that additional cost.

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I asked VA loan for 169,000.00 loan approval paper continues to go up, is this normal?

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