Did You Forget These VA Home Loan Deductions?

Military Moving

By now, most service members and veterans are aware of these VA-guaranteed home loan benefits.

  • No down payment required
  • No mortgage insurance (PMI) required
  • No prepayment penalty

However, many are forgetting the added benefit of including these two itemized tax deductions they may be eligible for when using a VA loan.

  • VA Funding Fee (qualified mortgage insurance)
  • Origination Fee (points)

Remember, you can go back three years to amend or correct your tax return if needed.

*Refer to your HUD-1 settlement statement to obtain these fee amounts* 

*See IRS Pub 936 for more information*