Question: Is it true that VA is no longer allowing the Funding Fee to be added to the base loan amount? Answer: I assure you that is not the case. The funding fee can still be added into the loan. Reference: Chapter 8 – Section 7a. For all types of VA loans, the loan amount […]
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Question: My clients are both Veterans and one is a disabled Veteran. Will VA allow me to exempt the funding fee when only one is disabled? Answer: You can use either veteran’s eligibility for the loan. Simply list the disabled spouse as the primary borrower, use their eligibility, and the funding fee will be waived. […]
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Written by: Tracey Rumsey, Staff Writer VA has issued some important updates in this bulletin that will help you prevent any delays in closing your Veteran clients. Pay close attention to our expert’s advice to avoid problems. Rule Synopsis: Effective immediately, lenders and servicers must comply with the following guidance regarding the VA funding fee: […]
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Answer: An eligible veteran is exempt from the funding on all VA loans they obtain. There is no limitation on the number of loans they may obtain without paying the funding fee. Reference: VA Lenders Handbook Chapter 8 Who is Exempt from Paying the Funding Fee? The following persons are exempt from paying the funding […]
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