va funding fee: Frequently Asked Question: Will I have to pay PMI on a VA loan?
- 02/13/10 10:06 PM
Frequently Asked Question: Will I have to pay PMI on a VA loan? Q: I plan on putting 5% down on a house, and financing it with a VA mortgage. Will I have to pay private mortgage insurance (PMI) on my new VA loan? A: No, you will not. VA loans do not have monthly mortgage insurance premiums. However, VA loans do have a funding fee. Unless you are exempt, the funding fee will vary according to your service (regular military or reserves/national guard), whether you are purchasing or refinancing, and how much you are putting down. The funding fee can … (3 comments)
va funding fee: Frequently Asked Question: FHA / MIP / VA Funding Fee
- 11/15/09 02:29 PM
Frequently Asked Question: FHA / MIP / VA Funding Fee Q: Q: I am going over our Closing Costs Worksheet (for our preapproval) and I see "FHA/MIP/VA Funding Fee". What is this? Is this something that has to be paid at closing or can it be added into the loan? A: FHA has a one-time upfront mortgage insurance premium (UFMIP) of 1.75% of the mortgage amount. If you are doing an FHA loan, you can either pay the UFMIP out of pocket or roll it into the mortgage. If you are doing a 15 year mortgage with less than 10% down or … (5 comments)
Frequently Asked Question: Will I have to pay PMI on a VA loan?
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