Finance
A North Dakota buyer uses a VA loan to purchase a home. Which fee unique to VA loans may be financed into the loan amount?
AOrigination fee
BVA funding fee✓ Correct
CAppraisal fee
DTitle insurance premium
Explanation
VA loans require a VA funding fee (unless the veteran has a service-connected disability). This one-time fee helps fund the VA loan program and may be financed into the loan amount rather than paid at closing.
Related North Dakota Finance Questions
- Which of the following best describes a balloon mortgage?
- What is the primary benefit of an FHA loan for a North Dakota homebuyer?
- Private mortgage insurance (PMI) is typically required when:
- What is the purpose of an escrow account (impound account) held by a mortgage lender?
- Which of the following is TRUE about FHA loans?
- A deed of trust differs from a mortgage in that it involves:
- A North Dakota lender's 'appraisal management company' (AMC) coordinates appraisals to:
- A North Dakota mortgage that allows the lender to demand full payment if the property is sold without lender approval is called a:
Practice More North Dakota Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free North Dakota Quiz →