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Monday, September 12, 2011

Lower Costs for Veterans


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.

4 comments:

  1. 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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  2. One of the significant VA mortgage advantages is that it's possible to get a house with no cash down using a VA Mortgage mortgage. In the present financial real estate industry, this is essentially one of the only loans now that will manage a person to be able to get a no cash down house.


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