Funding Fee with $0 Down: 2.15% $4,300
With $10,000-$20,000 down, the funding fee would be $3000 (1.5%). If you put more than $20,000 down the funding fee would be $2500 (1.25%).

To learn more about the VA funding fee and how you can roll this cost into your VA Home Loan, call your Home Loan Specialist today at 877-825-6264. Not available in NY.
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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 eligibile borrowers can enjoy loan benefits such as $0 down financing and no PMI payments.

VA Funding Fee Chart

The Funding Fee is calculated by looking at 5 different factors: Loan amount, 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 see how the va funding fee varies based on these factors.

Purchase - First Time Use
Down Payment Active Duty/Retired Guard/Reserve
$0 Down 2.15% 2.40%
5-10% Down 1.50% 1.75%
10% or More 1.25% 1.50%
Purchase - Additional Use
Down Payment Active Duty/Retired Guard/Reserve
$0 Down 3.30% 3.30%
5-10% Down 1.50% 1.75%
10% or More 1.25% 1.50%
Cashout Refinance
VA Usage Active Duty/Retired Guard/Reserve
1st Time Use 2.15% 2.40%
Additional Use 3.30% 3.30%
IRRL (Interest Rate Reduction Loan)
VA Usage Active Duty/Retired Guard/Reserve
1st Time Use 0.5% 0.5%
Additional Use 0.5% 0.5%

How the Funding Fee is Paid

The funding fee doesn't need to be 'paid' separately and is typically rolled into the loan. This is a big benefit to borrowers looking to take advantage of the $0 down benefit of the VA loan. Not only do borrowers not need to put anything down, but they can also finance the VA funding fee as well.

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.

Veterans United Home Loans

Our team of dedicated loan specialists are dedicated to supporting the men and women who serve our country with quality service on the path to home ownership.

Questions? Call 877-825-6264

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 contact a Mortgage Specialist at Veterans United. Not available in NY.

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