HivesDude asked:
The VA Funding Fee is usually combined with the total amount of the VA Home Loan, it is a form of mortgage insurance (not to be confused with property insurnace).
DARNELL
The VA Funding Fee is usually combined with the total amount of the VA Home Loan, it is a form of mortgage insurance (not to be confused with property insurnace).
DARNELL
ARMANDO
If this fee is listed on a separate line of your 1098 Mortgage interest statement then yes it should be.
Most likely, however, it is not.
Comment by Jeremy B — September 5, 2009 @ 6:26 pm
BLAINE
Yes they can. Very good explanation on page 7 of the IRS publication 936 in regards to this very issue.
see link below.
Comment by accordingtomom — September 7, 2009 @ 5:24 am
ANDRE
Yes it s tax deductible. It will be o your 1098 that the mortgage company will send to you.
Comment by mypassions4life — September 7, 2009 @ 10:48 pm
LAURENCE
The VA funding fee is fully deductible in the year that you closed on the mortgage, unlike most prepaid insurance fees which must be amortized. If it doesn’t show up on your Form 1098 it is still deductible and will show on your HUD-1 closing statement.
Comment by bostonianinmo — September 8, 2009 @ 1:38 am