Friday, September 23, 2011

VA Funding Fee Goes DOWN!

VA funding fees are going DOWN! Beginning October 1, the funding fee for veterans who have less than a 5% down payment is going down from the current 2.15% of the loan amount to 1.4% of the loan amount.

For Reservists and members of the National Guard, the funding fee is going down from the current 2.4% to 1.65%.

The VA funding fee is a fee that is charged to the borrower on VA loans. It is typically included in the loan amount.

If a borrower is receiving military disability payments, they are usually exempt from the funding fee completely.

Remember, VA loans are the best deal possible for vets, active military, and members of the Reserves or National Guard. There is no down payment, no mortgage insurance, and really low interest rates. VA loans are a benefit for people who have served our country. If a lender ever tries to talk someone out of a VA loan, it's probably because that lender is not approved to sell VA loans.

Getting a loan approved is easy - if you know what to do. The Mortgage Experts know what to do!!!

Make sure you check out our web site:


Gary said...

I hurd that VA funding will not change on Oct. 1st now it is going to be Nov. 17th is this true Thanks Gary

Chris and Debbie Thomas said...

Gary - I am not aware of any delay in the funding fee changes.