A fee paid for a loan. Used to identify the fee paid to the VA for issuing their guarantee. Also may be applied to an additional fee paid for funding a conventional loan, typically a commercial loan, at closing.
A fee charged in connection with DVA loans; the funding fee can be financed along with the loan. Gain—That portion of the proceeds from the sale of a capital asset, such as real estate, that the I.R.S. recognizes as taxable profit.
The amount VA charges on mortgages to cover administrative costs. ood Faith Estimate - A written estimate of closing costs which a lender must provide the borrower within three days of submitting an application.
The insurance premium that is collected up front on a VA loan to insure the lender against loss. This premium may be paid in cash or financed over the life of the loan. The amount of the premium is based on the loan-to-value ratio. There is no refund on any portion of this premium.