.svg)
.svg)
.png){kind=logo}
.png)
VA Funding Fees
.png)
VA Funding Fee Explained
The VA Funding Fee is paid directly to the Department of Veteran’s Affairs and is the reason they can guarantee this no-money-down loan program. This fee is paid so that VA eligible borrowers can enjoy loan benefits such as $0 down financing and no mortgage insurance (PMI) payments.
VA Funding Fee Chart
The Funding Fee is calculated by looking at 4 different factors: Loan type (Purchase or Refinance), type of service, down payment (if any) and prior VA loan use. Take a look at the charts below to determine the amount of your VA Funding Fee.
How the Funding Fee is Paid
The VA Funding Fee is typically included in the loan, but can also be paid by the seller or by the borrower at the closing table.
VA IRRL
A VA IRRL is a refinance of an existing VA mortgage. If you are refinancing from any other loan type that is not VA, the loan cannot be an IRRL and standard underwriting guidelines, funding fees, appraisal requirements and termite inspection will apply.
VA Funding Fee Exemption
Borrowers are exempt from paying the funding fee if they receive any disability payments from the VA or are considered at least 10% disabled.
For More Information Call (800)246-9518
If you have any questions about your VA loan benefit, the Funding Fee, Funding Fee Exemptions or how the VA Funding Fee chart works please email va@merchantslending.com.
Check VA Rates Now
Take a first step towards your dream home
Free & non binding
No documents required
No impact on credit score
No hidden costs
1 Day
Avg. Loan Approval Period
90%
of our business are VA Home Loans
$1B+
VA loans funded
States Where We Do Business
.png)
.svg)
.svg)
