VA FUNDING FEE: All things considered, VA loans offer excellent terms. You just need to be aware that the VA charges a funding fee at closing that is added onto the loan. Hence the fee adds a small amount to each mortgage payment. Veterans with service-connected disabilities are exempt and do not pay a funding fee. The VA funding fee will be waived for any active duty member in any branch who has received a Purple Heart.The amount charged depends on the type of veteran: the rate will be different for Regular Military compared to Reserves or National Guard. Funding fee rates also vary based on the down payment, and if the VA Loan Benefit has been used before. Sound complicated? Not to worry - I've done the math for you. Just find a home you like on transpero.com, click the Estimates tab, and answer a couple questions in the Finance section.