Question 1

What is a VA loan?

Accepted Answer

A VA loan is a mortgage benefit for eligible US veterans, active-duty service members, and surviving spouses, backed by the Department of Veterans Affairs. It requires no down payment and no PMI.

Question 2

What is the VA funding fee?

Accepted Answer

The VA funding fee is a one-time charge (1.25–3.3% of the loan amount) that helps fund the program. It can be rolled into the loan. Disabled veterans may be exempt.

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