Some of the draws to the VA loan is the $1 down feature and no mortgage insurance required. Also the VA inspection of the property being purchased is not as stringent as the FHA standards.
VA loans require a funding fee, which is based on the loan amount and down payment and can be rolled into the loan amount. The funding fee amount also goes up slightly after the first use of VA eligibility.
As with the FHA loans, sellers (and/or other parties) are allowed to pay certain buyers fees which is fairly probable in the current market. This is not the case with most regular conventional loans. The obvious advantage to the buyer is that there is less out of pocket costs at closing time.
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