didier at diddy a mortgage you want to
00:02
talk about the VA funding fee I had a
00:04
situation that happened that a realtor
00:06
asked me to put a little video on so
00:09
listen you must always ask a veteran if
00:11
they have their disability obviously
00:13
when you do the loan application you put
00:15
the VA funding fee on there and you know
00:17
a first-time user is two point one four
00:20
percent if they use it a second time
00:23
it's three point three percent but if
00:25
they have a certain percentage of
00:27
disability that VA funding fees waived
00:30
so what happened was we had the VA
00:31
funding fee and I put it on there and
00:34
then they provided into our security now
00:36
it being waived so went through
00:39
different channels what to underwriting
00:41
with the VA funding fee waived and then
00:43
the borrower got disclosure showing the
00:45
VA funding fee over and over but didn't
00:47
say anything and we got to closing and
00:50
that's why I go to my closings we were
00:53
there and there was a VA funding fee we
00:56
got it all corrected in two hours Boop
00:57
got it taken off but you gotta take note
01:00
always ask if they have enough
01:03
disability if they do have disability to
01:06
have that VA funding for you wait that
01:08
is a big deal because let's use a
01:10
hundred thousand dollar loan if you are
01:13
using it for the first time it's a two
01:14
point one four factors so your loan
01:16
amount would be one hundred two thousand
01:18
one forty if you're a second time user
01:20
it would be one hundred three thousand
01:22
three hundred dollars but if you don't
01:25
if you have the disability and you have
01:27
it waived it's a flat 100 so it's really
01:30
easy to know that and by the way I want
01:32
to throw this in there before I forget
01:33
if you put like five percent down your
01:35
VA funding to use one and a half percent
01:37
regardless first second third fourth
01:39
time user but those are important things
01:42
to note follow through let's not have
01:44
that VA funding fee on that closing
01:47
statement I had it happen but I got it
01:49
corrected and that's another reason
01:52
go to your closings be there to handle
01:54
any situation that may arise and get it
01:56
taken care of I'm Diddy and didier
01:58
mortgage wishing you a great week
