The VA funding fee is a one-time payment that most veterans, service members, and survivors need to make when they get a VA home loan. This fee helps keep the VA loan program running and makes it possible for the VA to offer loan.
Mortgage reserves refer to the funds that a borrower have after closing on a mortgage. These reserves are typically measured in terms of the number of months' worth of mortgage payments.
The property's value is worth more than you are purchasing it for. Therefore, you have more equity in the house. In terms of the mortgage approval, it doesn't change anything. Mortgage lenders use the lower of the contract price or appraised value when calculating loan to value.
