Finance
In New Mexico, a 'VA funding fee' is charged on VA loans to:
APay for the VA home inspection
BFund the VA home loan guarantee program, reducing reliance on taxpayer funds✓ Correct
CCover the lender's origination costs
DPurchase title insurance
Explanation
The VA funding fee is a one-time fee charged on VA loans that helps fund the VA loan program. The amount varies based on down payment, loan type, and whether it's the veteran's first VA loan. Disabled veterans may be exempt.
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