Thursday, August 25, 2016

Kentucky VA Funding Fee Guidelines

Kentucky VA Funding Fee Guidelines for Mortgages Explained 

A VA Reduced Funding Fee is Only permitted when a down payment is made on a purchase transaction.
Below is a quick job aide to assist in calculating the correct VA Funding Fee for A VA Mortgage in Kentucky.

1. Includes any R/T or Cash Out Refinance

• A reservist may use the lower percentage for Active Duty when calculating the funding fee ONLY if the reservist served more than 90 days of active duty.

If you are disabled, sometimes the VA Funding fee is excluded. This will show on your VA Certificate of Eligibility if you are exempt from the VA Funding Fee.

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Joel Lobb (NMLS#57916)
Senior  Loan Officer

American Mortgage Solutions, Inc.
10602 Timberwood Circle Suite 3
Louisville, KY 40223
Company ID #1364 MB73346

Text/call 502-905-3708

The view and opinions stated on this website belong solely to the authors, and are intended for informational purposes only.  The posted information does not guarantee approval, nor does it comprise full underwriting guidelines.  This does not represent being part of a government agency. The views expressed on this post are mine and do not necessarily reflect the view of  my employer. Not all products or services mentioned on this site may fit all people.
, NMLS ID# 57916, ( I lend in the following states: Kentucky