Roger Young

Mortgage Lender Peyton Mortgage

  • Home
  • About
  • Blog
  • Resources
    • Mortgage Calculator
    • First Time Home Buyer Tips
    • First Time Home Seller Tips
    • Free Loan Quote Request
    • Closing Costs
    • Home Appraisal
    • Home Inspection
    • Loan Checklist
    • Loan Process
    • Loan Programs
    • Mortgage Glossary
    • Mortgage FAQ
  • Reviews
    • Reviews
    • Zillow Reviews
  • Contact
  • Apply
    • Apply with Roger
    • Download Application Form

Who Is Exempt From The VA Funding Fee?

January 14, 2016 by Roger Young

Who is NOT required to pay the VA funding fee?

This video could save some veterans thousands. VA loan applicants pay a funding fee – as of 2014, 2.15% of the total loan amount – which can be thousands of dollars. Some veterans and spouses are eligible for exemption.

Broadly speaking, veterans who received disability benefits – current or former and who are NOT currently in debt to the government may be exempt from the funding fee. Some spouses may qualify as well.

The key thing to understand is, exemption from the funding fee is NOT automatic! Borrowers must certify their veteran status, government debt, benefits and active service state on VA Form 26-8937.

It’s important to tell your mortgage company that they need to submit this form EARLY in your home-buying process – if they just look up your records without submitting the form the VA will not begin the review and approval process and your home purchase could be delayed by weeks. Who Is Exempt From The VA Funding Fee

Mortagage Tips Tagged: Mortgage Tips, VA Loans, Video

Roger Young

Contact Roger


Mortgage Broker
Peyton Mortgage
Mobile: (281) 772-6249
Office: (832) 767-2530

roger@peytonmortgage.com
APPLY NOW →
FREE RATE QUOTE →

Connect With Me!

  • Facebook
  • LinkedIn
  • Twitter

Sign Up For My FREE Newsletter!

Repair your credit today with Lexington Law
Roger Young reviews

Quick Links

  • Calculator
  • Accessibility Statement
  • About Us
  • Contact Us
Equal Housing Lender

Archives

Categories


Located in Houston, TX
Company Address:
11111 Katy Freeway Suite 910
Houston, TX 77079

Copyright © 2022 Roger Young  ·  All rights reserved   ·   Log In