These are the VA Loan Guaranteed Funding Fees in place until September 30, 2016. During 2011 there were numerous circulars that said the fees would change in 2012 and again in 2013 – however that never happened. The fee structure currently in place, as outlined below will be in place until the end of September 2016.
We refer to these Guaranteed Fees as VA PMI rates – because essentially a Funding Fee is the VA Loan’s form of Mortgage Insurance, or PMI. It does not ever get “aged off,” and it does not have MONTHLY fees associated with it like USDA Home Loans and FHA Mortgage Loan PMI rates. This is the CHEAPEST mortgage program available.
The ONLY exception to this fee structure would be for Disabled Vets. VA loans for Disabled Vets have an extra benefit, and for the qualifying Disabled Vet – the fee is ZERO.
Find out more about VA Loan Eligibility Requirements.
Find out more about Va Loans for Disabled Vets.
Table: VA Funding Fees Through 2016
For questions about qualifying for a VA Loan , call Steve Thorne 919 649 5058 we appreciate your service, and we want to help you buy your dream home!