General Mortgage KnowledgeQuestion 152 of 400
The VA funding fee is best described as:
a.A monthly mortgage insurance premium
b.A discount point
c.A property tax
d.A one-time fee that helps sustain the VA loan program
Explanation
The VA funding fee is a one-time charge (often financed) that offsets taxpayer cost and can be waived for certain disabled veterans; VA loans have no monthly mortgage insurance. It is not a discount point or a property tax.
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