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Mortgage Research Center — NMLS #1907
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The VA funding fee is a one-time fee paid to the Department of Veterans Affairs (VA) to reduce taxpayer burden and ensure the program's longevity for future generations.
The VA funding fee is due at closing. However, VA borrowers have the option to finance the VA funding fee into the entire loan amount to reduce the amount of cash needed at closing.
As of January 1, 2020, VA funding fees increased slightly, from 2.15 to 2.30 percent for first-time use and 3.30 to 3.60 percent for subsequent use. Below are the current VA funding fees by service type and down payment.
In most cases, Veterans utilizing their VA loan benefits must pay the VA funding fee. Those exempt from the VA funding fee include:
See a related article: VA Loan Guidelines Explained
We are the online Home Loan Specialists. It is our goal to ensure that your VA Home Loan process goes as smoothly as possible. Let us help you get the process started today online, or call us at 800-405-6682.
If you need advice concerning Veteran Home Loans, feel free to contact a Home Loan Specialist online or call 800-405-6682. Specialists can help determine whether a Veteran Home Loan is the best financial decision for you.