Loan Officer Practice Exam 2026 – Comprehensive All-in-One Guide for Exam Success!

Question: 1 / 415

For VA-guaranteed loans, which statement is TRUE?

The funding fee can be financed

The statement that the funding fee can be financed is true for VA-guaranteed loans. This means that borrowers have the option to include the funding fee within the loan amount, rather than paying it upfront. This feature helps make home financing more accessible for veterans and service members by reducing their out-of-pocket expenses at closing.

The other options don’t accurately reflect the guidelines for VA loans. While borrowers can incur some closing costs, only specific items can be financed, not all closing costs. The loan amount generally must align with the appraised value of the property, so exceeding it is not permissible. Though it is true that borrowers can have more than one VA loan, they do so under specific circumstances and requirements, which might not apply in all situations. Thus, the correct focus on the funding fee being financeable stands out as an essential characteristic of VA loans.

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All closing costs can be financed

The loan amount can exceed appraised value

Borrowers can have multiple VA loans at the same time

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