VA Funding Fee
The IRRRL VA funding fee may only be paid in cash or financed as part of the mortgage (as long as the inclusion of the funding fee to the mortgage amount does not exceed the current maximum mortgage amount).
However, the funding fee may be split only when the total loan amount with the funding fee will exceed the current maximum mortgage amount. On loan amounts exceeding $417,000, if the combined loan amount plus the funding fee exceeds the county limit, the portion of the total funding fee that exceeds the county limit may not be financed into the loan amount.
Amount of funding fee charged is based on the loan-to-value, veteran status, transaction type, and prior use.
The following tables list the percentages for the require VA funding fees for closing.
Have questions about a IRRRL VA funding Fee? Be sure to speak with a VA mortgage expert today and get your questions answered.
VA Funding Fee: Get The Best Deal Possible
The easiest way to get the best deal on a VA loan is to speak with multiple VA approved lenders. Each lender will have their own rates, fees and guideline overlays and the only true way to know one from another is to get a written quote from each lender and compare. Get started by submitting your information below and get matched up with a VA approved lender who can help you today!