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In accordance with 552.238-74, Industrial Funding Fee and Sales Reporting, VA Schedule contractors are required to remit the requisite Industrial Funding Fee every quarter for all sales under the contract during the preceding 3-month period (to include any partial month).
The Industrial Funding Fee is an administrative fee built in to the pricing of all products & services offered under the VA Schedules program. The monies earned from this fee serve to support the agency office that negotiates all VA Schedule contracts.
At that time, you will be able to submit your quarterly sales information along with electronic payment for any Industrial Funding Fee (IFF) funds due. You should register in the VA Sales Reporting System at the beginning of the Government fiscal year quarter following the quarter that your contract becomes effective.
The VA Funding Fee is paid directly to the Department of Veteran’s Affairs and is the reason they can guarantee this no-money-down loan program. This fee is paid so that VA eligibile borrowers can enjoy loan benefits such as $0 down financing and no PMI payments.
The VA funding fee is a part of the VA home loan guarantee. VA lenders like VA home loans due to the quality of the loan as well as the inherent loan guarantee provided by the VA. Should the VA loan ever go into default and the VA lender approved the VA loan using established VA lending guidelines, the VA lender is entitled to be compensated at.
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VA home loans require an upfront, one-time payment called the VA funding fee. The fee is determined by the loan amount, your service history, and other factors. VA home loan applicants can pay all or part of the fee in cash, or wrap it into the loan amount to reduce out-of-pocket expenses.
But Wilkie then referred to concerns raised by The American Legion, Veterans of Foreign Wars, Disabled American Veterans and Paralyzed Veterans of American that the House-passed bill would pay for.
VA home loans require an upfront, one-time payment called the VA funding fee. The fee is determined by the loan amount, your service history, and other factors.
In accordance with 552.238-74, industrial funding fee and Sales Reporting, VA Schedule contractors are required to remit the requisite Industrial Funding Fee every quarter for all sales under the contract during the preceding 3-month period (to include any partial month). 2019 VA Funding Fee Chart.