Understanding the VA Loan Estimate

The loan estimate can be a daunting document. To better understand it, the document can be broken down into three pages.

Page 1 contains the general parameters of the loan:

• Loan terms (15 or 30 years)
• Loan Amount. The loan amount consists of the interest rate, and the principal interest rate. This does not include taxes, insurance, or HOA fees. Therefore, the monthly payment will be more.
• Fixed Rate – When the rate is