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.
NASB also offers some of the most competitive VA loan rates in the country and we do not charge any lender, bank, or origination fees on any VA loan we originate. Most other VA lenders charge a 1% lender or origination fee and it is common for NASB to be able to save you thousands of dollars compared to our competition.