What Is The VA Funding Fee

<body> <p>What Is The VA Funding Fee! A "VA Funding Fee" of 2.00 percent of the loan amount (2.75 percent for reservists) is payable at the time of loan closing. <a href="http://www.bartaustin.com/lasvegas/va-fundingfee2.html">What is the VA funding fee</a>This fee may be included in the loan and paid from the loan proceeds. The funding fee does not have to be paid by veterans receiving VA compensation for service-connected disabilities, or who but for the receipt of retirement pay would be entitled to receive compensation for service-connected disabilities, or surviving spouses of veterans who died in service or from a service-connected disability. If a veteran makes a downpayment of at least 5 percent, but less than 10 percent of the purchase price of the property, the funding fee is reduced to 1.50 percent of the loan amount (2.25 percent for reservists). If the veteran makes a downpayment of at least 10 percent, the funding fee is reduced to 1.25 percent of the loan amount (2.00 percent for reservists). If a veteran who has previously obtained a VA home loan obtains another loan with less than a 5 percent downpayment, the funding fee is 3.00 percent of the loan amount. With a downpayment of at least 5 percent, the funding fee is reduced to the percentages shown above for downpayments of at least 5 percent, but less than 10 percent, and for down payments of more than 10 percent.</p> </body>