Money Up Front With A Va Loan?
We plan to use my husband’s VA loan to buy a house. It is new construction (Hubble Homes), will cost around $190,000 (including options), and is in the state of Idaho, if that matters.
We do not need a down payment through the VA, but I have been told that there are other costs involved, such as insurance, some sort of VA loan fee, and some inspections. Since it’s a new home, under warranty, we won’t be having a home inspection, so no cost there.
So…do we pay the VA fee of 1.5% up front, or does that get added to our mortgage? As for this insurance, can you give me a ballpark figure of what we’d have to have? And have I missed any other up-front charges required when buying a new-construction home?
Not looking for exact numbers, just wondering if it’s $500 or $5000 that we’re looking at.
Thanks in advance!
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