A Quick Guide to VA Loan Closing Costs

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Troy Reichert

Troy Reichert is the owner of Reichert Mortgage LLC. With over 20 years of serving the United States Airforce, Troy wants to continue to give back to the community by helping give people their best chance at securing a home.

Bill and Susan have gone from casually browsing houses online, to viewing various houses, to finding their perfect home and getting ready to close. Then, they find out about the closing costs and are suddenly unsure of their decision. Don’t end up like Bill and Susan. Work with a mortgage broker and make sure you have all of the details.

As mortgage brokers in Colorado Springs, the Reichert Mortgage Team knows how reassuring it is when you have all of the information you need beforehand. This is why we take pride in providing educational resources to home buyers in Colorado. Keep reading to learn more about the closing costs that come with VA Home Loans.

VA Loan Closing Costs: What’s Included

Every mortgage comes with closing costs, and VA Loans are no exception. Despite what many think, closing costs is not a single fee, but actually a combination of six different charges. This includes the appraisal, credit report, title insurance, origination fees, recording, and survey. To better remember the closing costs, they are often referred to as the ACTORS.


An appraisal assesses the value and condition of the property. These assessments must be completed by a VA appraiser and the cost will vary. As of July 2020, Colorado’s appraisal fees range from $750-$950.

Credit Report

To close on your new home, you will need a credit report. In most cases, you will self-report for the first credit check, and the mortgage lender will verify your credit at the time of closing. This typically costs $50.

Title Insurance

Title Insurance is required to protect the home buyers and the lender. It is important to have a clear title, meaning there aren’t any property disputes, legal defects, or liens on the property you wish to purchase. Generally, lenders require the purchase of lender’s title insurance, which is covered by the borrower. The borrower also has the option of buying the owner’s title insurance. The costs for the title insurance will vary.

Origination Fees

The origination fees cover the origination, processing, and underwriting of the loan. For these fees, lenders can only charge up to 1% of the loan amount. So, if you get a $10,000 loan, the origination fee will be $100.


A recording is a process of making your deeds and other real estate documents part of the public record in your county. Of course, the recording fees will vary by county. For El Paso County, the first page will generally cost $13, with each additional page costing $5-$10.

Survey of Property

A property survey is done at the time of closing to confirm land boundaries and determine any other restrictions and conditions that affect the legal description of a property. Property survey fees will vary depending on the location and characteristics of the property, however, the average price for Colorado Springs is about $500. Try out this Property Survey Costs Calculator to get an estimate.

Helping You Navigate VA Loans | The Reichert Mortgage Team

As mortgage brokers in Colorado Springs, we have the knowledge and experience to ensure you get the proper information to make informed decisions. If you would like to learn more about VA Home Loans and their associated closing costs, the Reichert Mortgage Team is here to help. Contact us to get started!

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