The selling broker may represent the buyer or the seller. The selling broker, who is helping you shop for a home, must tell you whether he or she represents you or is the seller's agent. Only people who are now in the military or who are military veterans are eligible for a VA loan. FHA and VA loans can sometimes be assumed. If you are selling your home to someone who is getting an FHA or VA loan, you must be prepared to pay some closing costs which would usually be paid by the buyer.
Conventional loans are also available.
Mortgage insurance is for the benefit of the bank and will pay the loan if you do not repay it. When you apply for a loan, you will receive a Good Faith Estimate of Settlement costs. The Good Faith Estimate shows what kind of closing costs to expect. If you pay cash for property, you will not pay points, appraisal, credit report, mortgage loan inspection and other lender costs. The contract should state whether the buyer or the seller pays certain costs.