There is some good news for veterans that are going to use their VA entitlement to obtain a VA home loan. The funding fee that funds the government's ability to guaranty VA loans is going down. The fee is dropping .5% or even more in some cases. For regular military veterans using their entitlement for the first time, the current fee of 2.15% will be reduced to 1.4%. The fee for veterans that have used their entitlement prior will be reduced from 3.3% to 2.8%. The above chart compares the current fee compared to the new fee for loans funded after September 30, 2011.
If you want more information about VA financing, please call me at 480-305-8509. Thank you.
Unfortunately these lower funding fees for veterans did not get implemented as Congress passed and President Obama signed legislation that keeps the funding fee at former levels. Bummer.
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Very nice post its really useful for all borrowers, and here no need to pay nay other charges for service charges or other taxes.
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