New VA Funding Fees

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VA Funding Fees are set to decrease for VA transactions which close on or after October 1, 2011. This change is directed by United States Code (Title 38, Chapter 37, Section 3729) and recently passed Public Law 112-026.

VA Funding Fees for Regular Military purchases are updated as follows:

with down payment of 5% or less: First Time Use 1.40% / Subsequent Use 2.80%

with down payment of at least 5%, but less than 10%: First Time Use 0.75% / Subsequent Use 0.75%

 

with down payment of 10% or more: First Time Use 0.50% / Subsequent Use 0.50%

VA Funding Fees for Reserves/National Guard purchases are updated as follows:

With down payment of less than 5%: First Time Use 1.65% / Subsequent Use 2.80%

With down payment of at least 5%, but less than 10%: First Time Use 1.00% / Subsequent Use 1.00%

With down payment of 10% or more: First Time Use 0.75% / Subsequent Use 0.75%

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About Toni Hedstrom

I am one half of Hedstrom & Stamm Home Solutions, a dynamic real estate team with emphasis on home marketing utilizing our exclusive Home Ready Program.