collapse

Advertisement


Author Topic: VA Mortgages - The Funding Fee  (Read 229 times)

Offline pianoman9701

  • Mushroom Man
  • Business Sponsor
  • Trade Count: (+5)
  • Legend
  • *****
  • Join Date: Mar 2011
  • Posts: 43048
  • Location: Vancouver USA
  • WWC, NRA Life, WFW, NAGR, RMEF, WSB, NMLS #2014743
    • www.facebook.com/johnwallacemortgage
    • Apply for a loan
VA Mortgages - The Funding Fee
« on: April 22, 2024, 03:30:32 PM »
The funding fee for a VA mortgage varies depending on a few factors. The reason there's a funding fee at all is to help with the cost to the taxpayer for a loan which has no down payment required and no mortgage insurance. This is the only loan that does that. First, if you have an honorable discharge and are receiving compensation from the VA for a service-connected disability, the funding fee is waived. Without a disability, the first purchase with a VA loan adds a funding fee of 2.15% of the total loan amount. A subsequent purchase is a fee of 3.3%. And a rate and term refinance (IRRRL - interest rate reduction refinance loan) from an existing VA loan is .5% funding fee. With a down payment of 5% or more the fee rate for both the first and subsequent use mortgages is reduced to 1.5%, and for 10% or more, the funding fee rate is reduced to 1.25%. Let me know if you need more information about a VA loan for your home. (360) 771-1914
"Restricting the rights of law-abiding citizens based on the actions of criminals and madmen will have no positive effect on the future acts of criminals and madmen. It will only serve to reduce individual rights and the very security of our republic." - Pianoman

 


* Advertisement

* Recent Topics

Raptors by Ricochet
[Today at 02:35:39 PM]


Update on Wyoming corner crossing by LDennis24
[Today at 02:26:57 PM]


Lets talk Bi-pods. by hunter399
[Today at 12:22:20 PM]


Started Chocolate Lab Male by Ireland Farms
[Today at 11:39:39 AM]


Form 4 - Two Day Approval by passman65
[Today at 11:12:51 AM]


Wyoming antelope question by CaNINE
[Today at 11:06:15 AM]


Guns and Canada by Sitka_Blacktail
[Today at 10:34:55 AM]


My 2021 Multi season Elk tag by blackveltbowhunter
[Today at 10:06:45 AM]


Survey from association of fish and wildlife agencies? by Ric0
[Today at 09:31:08 AM]


1x scopes vs open sights by lamrith
[Today at 09:24:36 AM]


All-Around Big Game Caliber by BKMFR
[Today at 09:18:26 AM]


Use of points during special tag drawings by millerwheeler
[Today at 07:34:26 AM]


Nevada results by Dode
[Today at 07:13:39 AM]


Bearpaw Season - Spring 2024 by bearpaw
[Today at 01:13:12 AM]


Multi-Season Deer Permit Resale? by pat2bear
[Yesterday at 10:55:13 PM]


Kenai chest holster ?ís by run870
[Yesterday at 10:45:22 PM]


Oregon Wolf Poisonings by LDennis24
[Yesterday at 08:36:24 PM]


Gen 2 Ruger American AI magazine question. by dmoua
[Yesterday at 08:22:50 PM]


Oregon Draw Results by millerwheeler
[Yesterday at 07:46:42 PM]


Stopped in nebraska caught a fish by savagehunter
[Yesterday at 07:37:14 PM]

SimplePortal 2.3.7 © 2008-2024, SimplePortal