Originally Posted by
Sputnik
If you take a VA loan there is a funding fee associated with it, 2-3% (don't remember). It is usually (always?) rolled into the loan. Listening at the VA brief, that was about the one thing I heard--don't have to pay it with 10% or greater. That's worth the pain of applying to VA. If you don't need a VA loan, it's irrelevant.
On the latter statement, I don't disagree. However, just as I won't lie on my VA app, I don't plan to lie to the FAA (is that naive?).
Not sure exactly what you're saying, so I'll go basic on you, no offense intended.
1 - You don't need a VA disability rating to obtain a VA loan (I don't think you were making this assertion, but I'll state it just for grins)
2 - The VA funding fee varies depending on whether or not you've used your VA eligibility more than once or not. For grins, let's assume it's 2.5% for a first-time user. That's $2500/$100,000 loan.
So, let's do a quick example.
Assume $300,000 loan and 2.5% funding fee, that's $7500 VA fee.
PI payment w/o VA funding fee rolled in: $1610.46
PI payment w/VA funding fee rolled in: $1650.73
Difference: $40.27
3 - In the grand scheme of things, the tiny percentage of the VA funding fee is peanuts if the second part of my statement ever turns out to resemble reality and you've potentially jeopardized your future income stream if the FAA ever wants to "grow" its bureaucracy in a nefarious (to vets) manner, and/or some accident "sheds new light" on VA disability ratings to the public or congress, and/or any other number of, admittedly, double what-if scenarios occur. For anything less than concurrent receipt at 50%, it was too small change to tempt it for me...and I ain't rich by a long shot (currently furloughed where every nickel counts).
YMMV