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Can the buyer pay seller's closing costs on a VA loan?

by timothy_decker815 from New Raymer, Colorado. Dec 21st 2015 Reply


William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,726 contributions

Yes.. but they are not required to.. the seller, the listing or selling agent, your lender, or any combination of the 4 can help pay/contribute towards your closing costs.. You can also get a grant from a local non profit, or a gift from a relative or friend.. there's many ways to get your costs paid.. but you first should be talking to a local mortgage broker before you start looking.. this way you will know what you qualify for and will know how much you would need contributed for closing costs.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com NMLS# 226347

Dec 21st 2015
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Larry Gray (lgray_312_247)
#594 ranked lender in California - 1,139 contributions

William Acres may have answered your question pretty thoroughly...from the standpoint of the buyer taking advantage of ways to reduce your closing costs.My question is why would you want, as the buyer, to pay the seller's closing costs on a V A loan or any kind of mortgage loan? Then I thought, are you the seller? In that case each county in each State sets what the seller is required to pay for, and the seller is welcome to pay for any other closing costs the V A borrower may have. But being responsible for any seller costs...the seller would have to get more $$ from the buyer instead, by increasing the price of the home. That would compensate for the seller's required costs in the loan as per agreement of both parties.

Dec 21st 2015
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,944 contributions

Do you mean this the other way around? Buyers don't pay sellers closing costs, but sellers pay buyers closing costs all the time.

Dec 22nd 2015
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Phil Dumouchel (PhilDu)
#32 ranked lender in South Carolina - 2,240 contributions

I think others misread your question... Why would the buyer pay the seller's costs? More often it is the other way around. If the seller's costs are not being covered, the easiest approach is to increase the sales price as long as the appraised value covers the increase. Otherwise, it depends on exactly what costs you are talking about, some costs are not allowed to be paid by the veteran. Hope that helps - good luck!

Dec 22nd 2015
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