How Much is the VA Funding Fee

May 17, 2012 United States

How much is the VA funding fee? Many people are asking this question especially since there is many veterans out there who many years after the war are still fighting for the benefits that have been promised them. The people asking how much the VA is funding fee are often veterans and their families who are struggling to live through these tough economic times with mortgages and debts.

The VA funding fee is designed to give housing and assistance to the war veterans including their families, in the hope that they will own their homes in the future, a dream for millions of the veterans of America.

An estimated 2.5 million American veterans as well as service personnel are eligible for the VA funding.

The VA Funding Chart

You can determine how much the VA funding through the VA funding chart is. The amount of the VA funding fee will depend on what type of veteran is claiming for it, and the number of times the veteran has used the funding.

The VA funding is also determined by the type of the loan, the amount of the loan, and the type of service of the veteran.

The VA funding fee for those who belong to the regular military is 2.2%, if the veteran is claiming the benefit for the first time.

How much is the VA Funding Fee for First Time Use Purchase?

Regardless of whether the veteran is serving in active duty or retired, the funding fee is 2.15% for zero down payments. For down payments amounting to 5-10%, the fee is 1.50%, and if the down payment is more than 10%, the fee is 1.25%.

For those in the guard or in the reserve, the VA funding fee is 2.40% without down payment, 1.75% with down payment of 5-10%, and 1.50% if the down payment is more than 10%.

How much is the VA Funding Fee for Purchase Additional Use?
The VA funding fee for those in active duty or retired is 3.30% with zero down payment, 1.75% for down payments amounting to 5-10%, and 1.25 for down payments amounting to more than 10%.

For the Guard and the Reserve, the VA funding fee is 3.30% without down payment, 1.75% for down payments amounting to 5-10%, and 1.50% for down payments more than 10%.

how much is the va funding fee

How much is the VA Funding Fee for Cashout Refinance?
The VA funding Fee for those in the Active Duty and the Retired if it is their first time to use the VA funding is 2.15%. The same rate applies for the members of the Guard and the Reserve.

For additional use of the Cashout Refinance, the VA funding fee for the Active Duty, Retired, Guard, and Reserve is 3.30%.
How much is the VA Funding Fee for the Interest Rate Reduction Loan (IRRL)?

Regardless of the type of service the veteranbelongs to and regardless of number of times the personnel has used the VA funding, the funding fee is set at a fixed rate of 0.5% for all veterans looking for IRRL through the VA Funding Fee.
By referring to the rates above and through the websites of the VA, you will know how much is the VA funding fee