A veteran with a service-connected disability rating of 15% is purchasing a home using a VA loan. How does this disability rating affect the VA funding fee?
Correct Answer
B) The funding fee is waived entirely
Veterans with any service-connected disability rating (even as low as 10%) are exempt from paying the VA funding fee entirely, regardless of the percentage of disability or loan amount.
Why This Is the Correct Answer
Veterans with any service-connected disability rating (even as low as 10%) are exempt from paying the VA funding fee entirely, regardless of the percentage of disability or loan amount.
More Mortgage Knowledge Questions
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A borrower asks about the difference between discount points and origination fees. What is the most accurate explanation?
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