What is the VA funding fee for a first-time VA loan user purchasing a home with no down payment?
Correct Answer
B) 2.30%
The VA funding fee for a first-time use purchase loan with no down payment is 2.30% of the loan amount. This fee can be financed into the loan.
Why This Is the Correct Answer
The VA funding fee for a first-time use purchase loan with no down payment is 2.30% of the loan amount. This fee can be financed into the loan.
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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