Chapter 37, Subchapter III, Section 3729, Subsection (b) · 38 U.S.C. Chapter 37 — HOUSING AND SMALL BUSINESS LOANS

Contents

(b)

(1)The amount of the fee shall be determined from the loan fee table in paragraph (2). The fee is expressed as a percentage of the total amount of the loan guaranteed, insured, or made, or, in the case of a loan assumption, the unpaid principal balance of the loan on the date of the transfer of the property.

(2)The loan fee table referred to in paragraph (1) is as follows:Type of loanActive duty veteranReservistOther obligor (A)(i) Initial loan described in section 3710(a) to purchase or construct a dwelling with 0-down, or any other initial loan described in section 3710(a) other than with 5-down or 10-down (closed on or after October 1, 2004, and before January 1, 2020)2.152.40NA (A)(ii) Initial loan described in section 3710(a) to purchase or construct a dwelling with 0-down, or any other initial loan described in section 3710(a) other than with 5-down or 10-down (closed on or after January 1, 2020, and before April 7, 2023)2.302.30NA (A)(iii) Initial loan described in section 3710(a) to purchase or construct a dwelling with 0-down, or any other initial loan described in section 3710(a) other than with 5-down or 10-down (closed on or after April 7, 2023, and before June 9, 2034)2.152.15NA (A)(iv) Initial loan described in section 3710(a) to purchase or construct a dwelling with 0-down, or any other initial loan described in section 3710(a) other than with 5-down or 10-down (closed on or after June 9, 2034)1.401.40NA (B)(i) Subsequent loan described in section 3710(a) to purchase or construct a dwelling with 0-down, or any other subsequent loan described in section 3710(a) (closed on or after October 1, 2004, and before January 1, 2020)3.303.30NA (B)(ii) Subsequent loan described in section 3710(a) to purchase or construct a dwelling with 0-down, or any other subsequent loan described in section 3710(a) (closed on or after January 1, 2020, and before April 7, 2023)3.603.60NA (B)(iii) Subsequent loan described in section 3710(a) to purchase or construct a dwelling with 0-down, or any other subsequent loan described in section 3710(a) (closed on or after April 7, 2023, and before June 9, 2034)3.303.30NA (B)(iv) Subsequent loan described in section 3710(a) to purchase or construct a dwelling with 0-down, or any other subsequent loan described in section 3710(a) (closed on or after June 9, 2034)1.251.25NA (C)(i) Loan described in section 3710(a) to purchase or construct a dwelling with 5-down (closed before January 1, 2020)1.501.75NA (C)(ii) Loan described in section 3710(a) to purchase or construct a dwelling with 5-down (closed on or after January 1, 2020, and before April 7, 2023)1.651.65NA (C)(iii) Loan described in section 3710(a) to purchase or construct a dwelling with 5-down (closed on or after April 7, 2023, and before June 9, 2034)1.501.50NA (C)(iv) Loan described in section 3710(a) to purchase or construct a dwelling with 5-down (closed on or after June 9, 2034)0.750.75NA (D)(i) Loan described in section 3710(a) to purchase or construct a dwelling with 10-down (closed before January 1, 2020)1.251.50NA (D)(ii) Loan described in section 3710(a) to purchase or construct a dwelling with 10-down (closed on or after January 1, 2020, and before April 7, 2023)1.401.40NA (D)(iii) Loan described in section 3710(a) to purchase or construct a dwelling with 10-down (closed on or after April 7, 2023, and before June 9, 2034)1.251.25NA (D)(iv) Loan described in section 3710(a) to purchase or construct a dwelling with 10-down (closed on or after June 9, 2034)0.500.50NA (E) Interest rate reduction refinancing loan0.500.50NA (F) Direct loan under section 37111.001.00NA (G) Manufactured home loan under section 3712 (other than an interest rate reduction refinancing loan)1.001.00NA (H) Loan to Native American veteran under section 3762 (other than an interest rate reduction refinancing loan)1.251.25NA (I) Loan assumption under section 37140.500.500.50 (J) Loan under section 3733(a)2.252.252.25.

(3)Any reference to a section in the “Type of loan” column in the loan fee table in paragraph (2) refers to a section of this title.

(4)For the purposes of paragraph (2):

(A)The term “active duty veteran” means any veteran eligible for the benefits of this chapter other than a Reservist.

(B)The term “Reservist” means a veteran described in section 3701(b)(5)(A) of this title who is eligible under section 3702(a)(2)(E) of this title.

(C)The term “other obligor” means a person who is not a veteran, as defined in section 101 of this title or other provision of this chapter.

(D)

(i)The term “initial loan” means a loan to a veteran guaranteed under section 3710 or made under section 3711 of this title if the veteran has never obtained a loan guaranteed under section 3710 or made under section 3711 of this title.

(ii)If a veteran has obtained a loan guaranteed under section 3710 or made under section 3711 of this title and the dwelling securing such loan was substantially damaged or destroyed by a major disaster declared by the President under section 401 of the Robert T. Stafford Disaster Relief and Emergency Assistance Act (42 U.S.C. 5170), the Secretary shall treat as an initial loan, as defined in clause (i), the next loan the Secretary guarantees or makes to such veteran under section 3710 or 3711, respectively, if—

(I)such loan is guaranteed or made before the date that is three years after the date on which the dwelling was substantially damaged or destroyed; and

(II)such loan is only for repairs or construction of the dwelling, as determined by the Secretary.

(E)The term “subsequent loan” means a loan to a veteran, other than an interest rate reduction refinancing loan, guaranteed under section 3710 or made under section 3711 of this title that is not an initial loan.

(F)The term “interest rate reduction refinancing loan” means a loan described in section 3710(a)(8), 3710(a)(9)(B)(i), 3710(a)(11), 3712(a)(1)(F), or 3762(h)(1) of this title.

(G)The term “0-down” means a downpayment, if any, of less than 5 percent of the total purchase price or construction cost of the dwelling.

(H)The term “5-down” means a downpayment of at least 5 percent or more, but less than 10 percent, of the total purchase price or construction cost of the dwelling.

(I)The term “10-down” means a downpayment of 10 percent or more of the total purchase price or construction cost of the dwelling.

United States Government work; public domain under 17 U.S.C. § 105.

Defined terms · 30

Show every defined term

active duty veteran
means any veteran eligible for the benefits of this chapter other than a Reservist.
community development financial institution
has the meaning given that term in section 103 of the Community Development Banking and Financial Institutions Act of 1994 (12 U.S.C. 4702).
cooperative housing corporation
has the meaning given such term in section 216(b)(1) of the Internal Revenue Code of 1986.
covered veteran
means a veteran who has previously used entitlement under this chapter and for whom the full amount of entitlement so used has not been restored as a result of the exclusion in section 3702(b) of this title.
defaulted loan
means a loan that is guaranteed under this chapter, that was made for a purpose described in section 3710(a) of this title, and that is in default.
disabled veteran
means (A) a veteran who is entitled to compensation under laws administered by the Secretary for a disability rated at 30 percent or more, or (B) a veteran whose discharge or release from active duty was for a disability incurred or aggravated in line of duty.
energy efficiency improvement
includes a solar heating system, a solar heating and cooling system, or a combined solar heating and cooling system, and the application of a residential energy conservation measure.
Freddie Mac conforming loan limit
means the limit determined under section 305(a)(2) of the Federal Home Loan Mortgage Corporation Act (12 U.S.C. 1454(a)(2)) for a single-family residence, as adjusted for the year involved.
housing loan
means a loan for any of the purposes specified by sections 3710(a) and 3712(a)(1) of this title.
Indian Tribe
means any Indian tribe, band, nation, or other organized group or community, including any Alaska Native village or regional or village corporation as defined in or established pursuant to the Alaska Native Claims Settlement Act (43 U.S.C. 1601 et seq.), which is recognized as eligible for the special programs and services provided by the United States to Indians because of their status as Indians.
initial loan
means a loan to a veteran guaranteed under section 3710 or made under section 3711 of this title if the veteran has never obtained a loan guaranteed under section 3710 or made under section 3711 of this title.
interest rate reduction refinancing loan
means a loan described in section 3710(a)(8), 3710(a)(9)(B)(i), 3710(a)(11), 3712(a)(1)(F), or 3762(h)(1) of this title.
liquidation sale
means a judicial sale or other disposition of real property to liquidate a defaulted loan that is secured by such property.
Native American
means—
Native American veteran
means any veteran who is a Native American.
Native community development financial institution
means any entity—
other obligor
means a person who is not a veteran, as defined in section 101 of this title or other provision of this chapter.
other technical assistance
means services to assist a Native American veteran to navigate the steps necessary for securing a mortgage loan on trust land, including pre-development activities related to utilities, identifying appropriate residential construction services, and obtaining lease clearances and title status reports from the applicable tribal organization or the Bureau of Indian Affairs.
passive system
includes window and skylight glazing, thermal floors, walls, and roofs, movable insulation panels (when in conjunction with glazing), portions of a residential structure that serve as solar furnaces so as to add heat to the structure, double-pane window insulation, and such other energy-related components as are determined by the Secretary to enhance the natural transfer of energy for the purpose of heating or heating and cooling a residence.
qualified non-Native American veteran
means a veteran who—
Reservist
means a veteran described in section 3701(b)(5)(A) of this title who is eligible under section 3702(a)(2)(E) of this title.
residential energy conservation measure
means—
Selected Reserve
means the Selected Reserve of the Ready Reserve of any of the reserve components (including the Army National Guard of the United States and the Air National Guard of the United States) of the Armed Forces, as required to be maintained under section 10143(a) of title 10.
solar heating
has the meaning given such term in section 3(1) of the Solar Heating and Cooling Demonstration Act of 1974 (42 U.S.C. 5502(1)) and, in addition, includes a passive system based on conductive, convective, or radiant energy transfer.
subsequent loan
means a loan to a veteran, other than an interest rate reduction refinancing loan, guaranteed under section 3710 or made under section 3711 of this title that is not an initial loan.
tribally designated housing entity
has the meaning given that term in section 4 of the Native American Housing Assistance and Self-Determination Act of 1996 (25 U.S.C. 4103).
trust land
means any land that—
veteran
includes the surviving spouse of any veteran (including a person who died in the active military, naval, air, or space service) who died from a service-connected disability, but only if such surviving spouse is not eligible for benefits under this chapter on the basis of the spouse’s own active duty.
veteran of the Vietnam era
means a person (A) who served on active duty for a period of more than 180 days, any part of which occurred during the Vietnam era, and who was discharged or released therefrom with other than a dishonorable discharge, or (B) who was discharged or released from active duty for a service-connected disability if any part of such active duty was performed during the Vietnam era.
World War II
(A) means the period beginning on September 16, 1940, and ending on July 25, 1947, and (B) includes, in the case of any veteran who enlisted or reenlisted in a Regular component of the Armed Forces after October 6, 1945, and before October 7, 1946, the period of the first such enlistment or reenlistment.