The money at the front with a VA loan?

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We plan to use my husband’s VA loan to buy a house. It is newly built (Hubble Homes) is approximately $ 190,000 (including options) and the cost to the State of Idaho where he ankommt.Wir do not need a deposit by the VA, but I said there are other costs such as insurance, type of VA loan fees, and some tests. Since this is a new home, under the guarantee we do not have a home inspection, so no cost gibt.Also … before we pay a fee of 1.5% VA, or means to date of our mortgage? As for this insurance, you can give me a rough estimate of what we should have? And I forgot other upfront costs required to purchase a new house construction, please do not look for exact numbers, just wondering if $ 500 or $ 5,000, we ist.Vielen you looking at advance!
Building insurance, etc., we paid in 2010. Is there anyway we can claim to any of these expenses on our 2010 A return? We do VA loans, so you do not pay, no mortgage payments until we walk in the door. But boy, my boy, there were so many other costs that we had to pay. Any help would be welcome. Thank you for any help you could give to the situation.

  1. Reply
    Fort Sill Army Wife
    January 24, 2011 at 11:31 pm

    we just used my husbands VA loan we close on our house tomorrow. The funding fee is included into your mortgage, you will need earnest money (usually 1% of the house price),appraisal (350) and home inspection,i would still get it even on a new house…things can happen and its only around 200 (our home is under warranty and i still had it inspected) insurance will be included in your closing costs, which you will also have to pay unless you get the sellers to agree to pay some or all of it. The seller of our house agreed to pay all our closing costs, our house was being sold for 129,900 we offered them 113,000 and that they pay closing costs of 3900.

  2. Reply
    January 25, 2011 at 12:11 am

    These all sound like expenses to building the house or actual purchases (since they make the house worth more when you sell it), which are not tax deductible. Only interest is tax deductible (for a house you are living in). If you paid any points on the loan when you closed that is deductible but that might be the only thing.

  3. Reply
    raphaela zahl
    January 25, 2011 at 12:14 am

    You’ll find the the pros and cons laid out really clearly on the tips on links first and eighth here;

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