Question:

How big is the VA home loan funding fee?

Answer:

The VA home loan funding fee is required by law and differs for different down payment amounts and whether the VA loan is a first or consecutive one.

Regular Military Members
First-time No down payment VA funding fee of 2.15%
Second time No down payment VA funding fee of 3.30%
First and consecutive time Up to 10% down payment VA funding fee of 1.50%
More than 10% down payment VA funding fee of 1.25%
Reserves / National Guard
First-time No down payment VA funding fee of 2.40%
Second time No down payment VA funding fee of 3.30%
First and consecutive time Up to 10% down payment VA funding fee of 1.75%
More than 10% down payment VA funding fee of 1.50%
Cash-out refinance for regular military
First-time VA funding fee of 2.15%
Consecutive time VA funding fee of 3.30%
Cash-out refinance for reserves/national guard
First-time VA funding fee of 2.40%
Consecutive time VA funding fee of 3.30%
VA IRRL (Interest Rate Reduction Loan) VA funding fee of 0.50%
VA Manufactured Home Loans VA funding fee of 1.00%

Exempt from VA funding fee:

  • Veterans with VA compensation for service-connected disabilities.
  • Retired veterans who would receive VA compensation for service-connected disabilities if they were not retired.
  • Surviving spouses of veterans who died in service or from service-connected disabilities.
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