VA Funding Fee Information
In order for VA to guarantee the home loan, there is a closing cost assessed by the VA to originate the loan called a funding fee. This fee will vary, depending upon the type of VA loan, whether this is your first time to use your entitlement, if you are a disabled veteran, the down payment and if you served active duty or in the National Guard/Reserves.
The following table breaks down the funding fee charged by VA:
| First time use, purchase of an eligible property | ||
| Down Payment | Active Duty | Reserves/NG |
| 0% to 4.99% | 2.2% | 2.4% |
| 5% to 9.99% | 1.50% | 1.75% |
| 10% + | 1.25% | 1.5% |
| Second time use, purchase of an eligible property | ||
| Down Payment | Active Duty | Reserves/NG |
| 0% to 4.99% | 3.3% | 3.3% |
| 5% to 9.99% | 1.50% | 1.75% |
| 10% + | 1.25% | 1.5% |
The higher subsequent use fee does not apply to these
types of loans if the veteran’s only prior use of entitlement was for a
manufactured home loan.
Funding Fee For Other Loan Types
Loan Assumptions: .50%
Cash-out Refinance: 3.3% Funding Fee
Streamline
Refinance (IRRRL): .50% Funding FeeManufactured Home Loans: 1.00%
Veteran Benefits
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