First-Use Fee Subsequent-Use Fee 1.0% 1.0% VA refinance funding fees Service members and veterans pay 2.3% the first time they use the VA loan program for a cash-out refinance, and 3.6% for subsequent uses. Keep in mind that refinancing from another loan type (for example, an FHA loan...
VA Funding Fee = Loan Amount x Funding Fee Percentage For example, suppose you are a first-time homebuyer purchasing a home for $350,000 with no down payment. The 2025 VA funding fee percentage for first-time homebuyers with 0% down is 2.15%. The VA funding fee calculation would be $3...
First Time Use Subsequent Use Active Duty Military 2.15% 3.30% Reservist or National Guard 2.40% 3.30% VA Streamline Refinance 0.50% The VA funding fee is required by law. The fee, currently 2.15% on no down payment loans for a first-time use, is intended to enable the veteran who obtain...
How Much Is the VA Funding Fee? So how much is the VA funding fee? If you are purchasing a home for the first time, you will have to pay 2.15 percent of the loan amount when you close on your house. If you are taking out a subsequent VA loan to purchase a house, you will have...
2024 VA Funding Fees There are two factors the VA uses to determine your funding fee: your down payment and whether you’re a new or subsequent VA borrower. Making a down payment of 10% or more lets you pay the lowest funding fee. First-time VA borrowers making a down payment of less...
While VA loans don't require you to make a down payment or pay for mortgage insurance, they do require borrowers to pay a funding fee. The VA funding fee can range from2.15% to 3.3%of a home's sale price for first-time use. However, not all borrowers have to pay it. There are ...
First-time users of the benefit pay a 2.15% funding fee, but it can range from 0.5% to 3.3% of your loan amount, and some veterans are exempt. It can be a one-time payment or added to your VA loan amount and financed over the term of the mortgage. Multiple VA loans – VA loans...
In 2025,VA funding feescan range from 0.50% to 3.6% of the loan amount depending on your loan purpose (purchase, refinance, or cash-out refinance) and whether you’ve used your VA loan benefit before. When it comes to VA entitlement, there’s more good news. ...
The cost of that added fee can bump your mortgage payment. Luckily, VA loans don’t require private mortgage insurance. How to Get a VA Loan as a First-Time Home Buyer Here at Griffin Funding, we don’t want our clients to experience any unpleasant surprises during the home-buying ...
freeing up that money for other expenses. To sustain the program and guarantee loans, a one-timeVA funding feeis added to the loan amount. Fees range from 0% to 3.6% — yours will depend on the loan amount and type, your service history, and whether you’ve used your VA home loan ...