VA Mortgage Loan
DO I HAVE TO PAY MY CLOSING COSTS OUT OF POCKET?
In most cases the answer is no. If you are purchasing a home, the contract can be structured to where the seller will pay up to 3% of the loan amount towards borrower's closing costs for a conventional loan. You can have the seller pay as much as 6% of the borrower's closing costs for a VA loan. If you are refinancing your home loan, however, you will be responsible for all your costs unless you have enough equity in your home to roll the costs into your new loan.
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