Financing
Financing Practice Question
The VA funding fee on a VA loan is:
A
Always waived for all veteransB
A one-time fee that varies based on down payment and type of useC
An annual fee like FHA MIPD
Only charged on refinancesExplanation
The VA funding fee is a one-time fee that varies based on down payment amount, type of service, and whether it's the veteran's first VA loan use. It can be financed into the loan. Veterans receiving VA disability compensation are exempt from the funding fee.
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