What does it mean by loan without MIP/Funding Fee?

No Mortgage insurance premium is being charged.

Hello Jason, Good Afternoon! A home mortgage loan without a Mortgage Insurance Premium.http://www.uwlending.com/mortgage-basics/

FHA loans have two types of mortgage insurance premiums.. one is an upfront charge of 1.75% which is added to your loan amount. the other is the monthly MI premium which is on all FHA loans.. For VA loans, they charge a "Funding Fee" which is an upfront charge like FHA, but the percentage varies based on past VA benefit use or disability. .. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

These are both form of up-front Mortgage Insurance charged by FHA and VA respectively. MIP can't be waived on an FHA loan, but can be avoided by choosing a different loan type. A Funding fee from VA can be waived for different reasons, the most common reason is because of a 30% or more disability status by the VA.