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Real Estate Glossary

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V

VA Loan
A long-term, low-or no-down payment loan guaranteed by the Department of Veterans Affairs. Restricted to individuals qualified by military service or other entitlements.

VA Mortgage Funding Fee
A premium of up to 1-7/8 percent (depending on the size of the down payment) paid on a VA-backed loan. On a $75,000 fixed-rate mortgage with no down payment, this would amount to $1,406 either paid at closing or added to the amount financed.

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Douglas Richard Gordon
Licensed Real Estate Salesperson State of Louisiana
RE/MAX Real Estate Partners, Inc.
Metairie, LA 70002 USA
Direct Line 504-236-6918
Office 504-888-9900
Equal Housing Opportunity