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House passes bill hiking VA mortgage refi fees to fund expanded veterans’ benefits
The U.S. House of Representatives on Thursday passed a bill that increases benefits for veterans and their surviving families, offsetting the cost by raising fees on VA refinance transactions.
The U.S. House of Representatives on Thursday passed a bill that increases benefits for To offset the costs of the expanded benefits, the proposal raises the VA refinance fee from 0.5% to 1.42%, increases the assumption fee from 0.5% to 1%, and extends current funding fee rates for non-disabled veterans while adding modest monthly costs for some borrowers.
Lawmakers noted that the Ultimately, 20 veteran service organizations and stakeholders supported the bill, which saw massive backing from Republicans. More than 150 Democrats voted against it.
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Originally published by Flávia Furlan Nunes
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