VA Funding Fee Dropping

 

Some good VA news to report.  VA Funding Fees are actually scheduled to decrease significantly for VA transactions closed on or after October 1st.  For the typical Veteran seeking 100% financing, the Funding Fee will drop from 2.15% to 1.4%.  On a $200,000 home, this equates to a $1500 lower fee saving the buyer $8 per month. I know this is not a huge monthly savings but the significant savings is that the loan amount is $1500 less, which means more money in the buyer’s pocket when they sell their home down the road.  With this said, be aware that there is further pending legislation that will almost certainly bring additional change to the fee structure again in the years ahead.  Thus, the fee structure will need to be revisted again next year.

 

September 19, 2011 by · Leave a Comment

About James

James A. Williamson is currently the Sr VP of Sales Development for Shelter Lending Services (formerly Fairfield Mortgage). James joined Shelter in 1994 and was the company's top Loan Officer in GA for 20 straight years helping over 2500 families finance their homes. James now oversees an incredible group of Loan Officers in Atlanta while further building Shelter's Atlanta business.

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