verb (used without object), prorated, prorating. 1. to make an arrangement on a basis of proportional distribution. verb (used with object), prorated, prorating. 2. to divide, distribute, or calculate proportionately. Origin of prorate.
Origination charge: The VA allows lenders to charge up to 1 percent of the loan amount to cover origination, processing and underwriting costs. They can choose to either charge you a flat 1 percent origination fee, or pick and choose among a host of fees, so long as they add up to no more than 1 percent.
VA limits the closing costs that the veteran can pay to obtain a home loan. limitations on borrower paid fees and charges is required on all VA loans. ï§ The veteran can pay the fee of a VA appraiser and VA compliance. inspectors. ï§ The veteran can also pay for a second appraisal if he or she is requesting.