if you have at least 10% disability the funding fee requirement of the VA loan gets waived. This is something like 2-3% of the loan cost.
Welcome to the community!
Property Tax Exemption For Texas Disabled Vets! Texas uses the sliding scale approach. I personally have a combined total of 80% which qualifies me for a $12,000 deduction on top of the Texas Homestead Exemption which is another $25,000.
The Federal Government requires lenders to collect a fee called the VA funding fee. This fee was designed to remove much of the costs to the taxpayer that come along with the VA Home Loan Guaranty Program. The fee is usually around .5 to 3.3 percent of the total loan amount, but disabled veterans are exempt from paying the fee.
lenders can count a veteran’s disability income as effective income towards a mortgage.
Some Lenders will also give cash back at closing if you use one of their "Military-Friendly" agents. The cash back amount is based on the final purchase price of the property. (Just FYI)
Thanks guys; much appreciated!
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