What Is The VA Funding Fee?

The VA Funding Fee is a fee that is required in order to receive a VA loan.

There are a few exceptions that allow for the fee to be waived:

• Veterans who are getting VA compensation due to service related disabilities.

• Veterans who would be receiving VA compensation due to service related disabilities if they were not already receiving retirement pay.

• Loans for spouses of veterans who passed away in service or because of service related disabilities.

VA funding rates have changed over time. If you are interested in taking out a VA loan, please feel free to contact us for the current fee amounts.

The amount of the VA funding fee required varies based on the amount of the down payment, whether this is the first time the borrower has taken out a VA loan, and whether the borrower served in active duty or in the reserves or National Guard.

For VA loans, borrowers who have served in active duty are categorized as either a first time user or a subsequent user.

If you are considering taking out a VA loan and would be classified as a subsequent user (meaning you have already taken out a VA loan in the past), then you should strongly consider making a down payment.

Again, If you are interested in taking out a VA loan, please feel free to contact us for the current fee amounts.