A veteran with a service-connected disability applies for a VA loan. The veteran asks about the VA funding fee. What special consideration applies to veterans with service-connected disabilities?
Correct Answer
C) Veterans with service-connected disabilities are exempt from the VA funding fee
Veterans receiving VA disability compensation for a service-connected disability are exempt from paying the VA funding fee. This exemption is one of the additional benefits provided to disabled veterans.
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Related Topics & Key Terms
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Related Concepts
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A comparison of the major mortgage loan types—conventional, FHA, VA, and USDA—covering their eligibility requirements, down payment amounts, mortgage insurance rules, and best use cases.
Predatory lending refers to unfair, deceptive, or abusive lending practices that impose unjustified terms on borrowers, often targeting vulnerable populations. It includes practices like excessive fees, inflated appraisals, and unnecessary refinancing.
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