Many veterans qualify for a waived funding fee in their VA loan transaction but are unaware. Below, we highlight the five groups that the VA Handbook identifies as eligible for this additional benefit:
1.) Veterans entitled to receive compensation but are currently on active duty.
2.) Veterans receiving VA compensation for disabilities associate with their service.
3.) Veterans entitled to receive compensation for disabilities associated with their service and did not receive retirement pay.
4.) Spouses of those veterans who died in service or from disabilities associated with their service.
5.) Veterans rated by the VA who are deemed eligible to receive compensation due to a pre-discharge disability examination.
For more details on which groups are exempt from the funding fee requirement, and other information associated with borrower fees, see this excerpt from the.