Underwriting Guidelines—VA Interest Rate Reduction Refinancing …

The veteran pays $5,000 in closing costs (includes all costs – closing costs, funding fee, discounts, etc.). Recoup closing costs in 36 months (loans closed greater than 6 months) - $5,000 divided by $50. Note: This would not be required in those limited cases where the payment is not decreasing (reduced term of the loan, etc.). ................
................