VA Funding Fee Refund for Disabled Veterans - VA Loan

Are you a veteran who recently received a VA disability rating? Did you know you might be eligible for a refund on your VA Funding Fee, potentially saving you thousands of dollars? Imagine getting a well-deserved financial break that you never knew you could claim! In today's video, I'll walk you through the simple steps to see if you qualify and show you exactly how to get your refund. Stick around, because this could be a game-changer for your financial future. Let's dive in and get you the benefits you've earned!
Understanding the VA Funding Fee:
- What is the VA Funding Fee?
- How the VA Funding Fee supports the VA Home Loan program
- Who is typically required to pay the VA Funding Fee?
- First-time use and subsequent use rates explained
- How the fee can be rolled into the VA Loan
Exemptions from the VA Funding Fee:
- Veterans with a 10% or higher disability rating
- Impact of a veteran’s disability rating status at the time of loan closing
- Rating received during the home buying process
- Benefit transfer to surviving spouses
Eligibility for a Refund:
- Understanding the “Effective Date” of your VA Disability
- Importance of the Award Letter and filing an Intent to File
- Ensuring the effective date is before your home closing date
- Filing during the home buying process
- No time limit on applying for a refund
- Active duty discharge date as the effective date
- Process for surviving spouses
Real Estate Property Tax Breaks:
- State-specific tax breaks based on Service Connected Rating
- Retroactive tax breaks and timelines
- VA's 1-day decision process - / @thecivdiv
- Video Link: • VA Disability Ratings ...
Steps to Apply for a Refund:
1. Gather Necessary Documents:
- VA Certificate of Eligibility (COE)
- VA disability rating decision letter
- Closing documents for the home purchase
2. Contacting Your Lender
3. Submitting the Refund Request
4. Follow-Up and Timelines - Vary by Regional Loan Center
5. Receiving Your Refund - Balance reduction or check in hand!
Best Practices:
1. Keeping Records: Document everything, no matter the stage.
2. Seeking Assistance: Contact us or explore our channel for more VA Home Loan education.
VA Regional Loan Center Contact Info: benefits.va.gov/HOMELOANS/con...
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► ► Get Pre-Approved With My Team → bit.ly/ApplyToday_VA
► ► Get Your Certificate of Eligibility → bit.ly/COEreview
🏦 FREE Loan Estimate REVIEW → bit.ly/EstimateReview
-- Disclaimer --
DISCLAIMER: VA Housing Education is an education company. VA Housing Education is not a lender, does not issue loan qualifications, and does not extend credit of any kind. This website is only for educational usage. All calculations should be verified independently. This website is not an offer to lend and should not directly be used to make decisions on home offers, purchasing decisions, or loan selections. Not guaranteed to provide accurate results, imply lending terms, qualification amounts, or real estate advice. Seek counsel from a licensed real estate agent, loan originator, financial planner, accountant, and/or attorney for real estate, legal, and/or financial advice.
VA Housing Education is not affiliated with the VA, FHA or any other government agency. This site has not been approved by any government agency.
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[@ruderabbit797]

Dewayne send me to you.I'm 100P&T, Federal early disability retired. VA home loan cert not used. I'm posting here as other may also want to know. I've been trying to find out something. about VA guarantee home loan program. If one goes for a home property, that is on an island, could a boat be added into the loan for the purpose of property access, or some other name/term as part of the loan?

[@vahousingeducation]

Great question! That's a first for me! Unfortunately, you can't use the VA Loan to add a boat but if the seller "includes" it with the sell of the property and the property can appraise for the purchase price - then you can do it. Hope that helps.

[@paulworkman8264]

If retirement is in the first and closing is on the same day, how would that work with eligibility for a refund of the funding fee? BBD claim is complete and awaiting results presently. Looking to purchase a home while transitioning and avoiding the FF. Would I get stuck with it?

[@vahousingeducation]

Great question. I would reach out to the RLC 877-87-3702. Technically that would but you have to confirm with the VA.

[@josecolon8143]

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