Share →

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

Tagged with →  
Mortgage Programs
Search our site for the latest loan types and programs available from Approved Funding.
Learning Centers
Access our mortgage, real estate and market learning centers filled with a wealth of information.
Rate Quote
Get a quick no-obligation custom rate quote tailored to your unique financial situation.
Licensing & Updates
See the latest licensing, announcements and updates from Approved Funding.
Contact Us
Find out the best way to contact Approved Funding to address whatever your need
Career Opportunities
See the latest Career Opportunities available for qualified and passionate individuals.