What are the closing costs for VA loans for military personnel?


The basic closing costs of a VA loan for military personnel vary depending on the VA funding fee. Veterans receiving compensation from the VA are exempt from paying a funding fee.

The down payment greatly reduces the funding fee - with no down payment, the funding fee can go over 3%; 10% down payment cuts it to 1.25%.

Refinances have 0.5% funding fee; veterans who take a VA loan for a second time and do not provide at least 5% down payment are charged 3.3% VA funding fee.

All closing costs for VA home loans for the military can be rolled into the loan, or paid in cash.

Refer to other QnA's on MortgageQnA for more details on the closing costs for VA mortgages for the military, or to the official VA website.

Mortgage rates hit their lowest since 1955. Ask the home loan experts we recommend Quicken Loans how to take advantage of them.
Was this Mortgage QnA helpful?
Not at all
  • Currently 3/5 Stars
  • 1
  • 2
  • 3
  • 4
  • 5
Add to this Answer

Mortgage QnA is not a common forum. We have special rules:

  • Post no questions here. To ask a question, click the Ask a Question link
  • We will not publish answers that include any form of advertising
  • Add your answer only if it will contrubute to the quality of this Mortgage QnA and help future readers
If you have trouble reading the code, click on the code itself to generate a new random code. Verification Code Above:
Bookmark and share this QnA: