Positive Change in Funding Fee on VA Loans

Positive Change in Funding Fee on VA Loans

Positive Change in Funding Fee on VA Loans

As of October 1, 2011 the funding fee on VA loans for Veterans will decrease. The current rate for first time users putting down less that 5% is 2.15% of the loan amount. For loans that close on or after October 1, 2011 the fee for first time users putting down less that 5% will be 1.40%. This .75% savings equals $2,250 savings on a $300,000 loan.

For those who are putting down 5% but less than 10% the funding fee will go from 1.5%-.75%. The funding Fee for Second and Subsequent Use will go down from 3.30 to 1.25% over the next 2 years till it bottoms out at 1.25%

See the graphs below for more details.

If you are a Veteran, Reservist, or National Guard and looking to buy a home in Prince William County or the Northern Virginia area, give us a call 703-330-4423

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703-330-4423
Associate Broker
Realty World Select

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