VA loans require payment of a VA loan funding fee. Some borrowers are exempt from paying this fee; the Department of Veterans Affairs does not require funding fees from veterans who receive (or are eligible to receive) VA compensation for service-related medical conditions. But some vets don't have official confirmation of their VA disability status when they are applying for a VA home loan.
In some cases, the veteran may be required to pay the funding fee and apply for a refund later when official notice is provided that the veteran's disability status has been approved by the Department of Veterans Affairs. In these cases, a refund is due--but that refund is not automatic. Once the veteran gets notice of his VA disability rating, it's up to the veteran to apply for the refund.
The post VA Loan Funding Fee Refunds: Cash Back? appeared first on VA Loan News Blog.
