Is PMI required for VA loan?

[Anonymous]

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@Anonymous wrote:

We just closed on our VA loan. No PMI, Loan funding fee can be rolled right into the loan (we were not going to do this originally, but our home appraised a lot higher than we were contracted for so we rolled it in). Also nice with a VA loan - we had enough concessions from the sellers that we ended up only paying 106.00 at closing (and a week later had a check for 6 bucks in the mail from the Title company because apparently we overpaid. Lol) Our goal was to pay enough upfront so that the loan wouldn't be more than the value of the home but also with as little out of pocket as possible. It worked for us

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That's awesome, I hope I can pull off something similar

[Anonymous]

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@Wovenyarn wrote:

No PMI and if you have a service connected disability the origination fee is waived. 

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Thanks, no I don't have a service connected disability, just honorable discharge after a couple tours

[Ups77]

I'm at 70% disability rating and taking a Ilan for 414000 so I don't have to,pay usaa the origination fee at closing?

[DallasLoanGuy]

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@Ups77 wrote:

I'm at 70% disability rating and taking a Ilan for 414000 so I don't have to,pay usaa the origination fee at closing?

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lenders charge the allowable 1% origination to cover the non-allowable fees.....

yes, it is stupid.... but, remember, these are the same people who run the va hospital

[mnat]

If disabled you don't have to pay the "funding fee."

[Anonymous]

No PMI for VA loans. Be sure to check out differ lenders and see who can get you the best rate.