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Written by Administrator
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Saturday, 16 February 2008 |
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Purchase and construction loans Note: The funding fee for regular military first time use from 1/1/04 to 9/30/04 is 2.2 percent. This figure drops to 2.15 percent on 10/1/04. | Type of Veteran | Down Payment | First Time Use | Subsequent Use for loans from 1/1/04 to 9/30/2011 | | Regular Military | None
5% or more (up to 10%)
10% or more | 2.15%
1.50%
1.25% | 3.3%*
1.50%
1.25% | | Reserves/National Guard | None
5% or more (up to 10%)
10% or more | 2.4%
1.75%
1.5% | 3.3%*
1.75%
1.5% |
Cash-out refinancing loans | Type of Veteran | Percentage for First Time Use | Percentage for Subsequent Use | | Regular Military | 2.15% | 3.3%* | | Reserves/National Guard | 2.4% | 3.3%* | * The higher subsequent use fee does not apply to these types of loans if the veteran’s only
prior use of entitlement was for a manufactured home loan.
Other types of loans | Type of Loan | Percentage for Either Type of Veteran
Whether First Time or Subsequent Use | Interest Rate Reduction
Refinancing Loans | .50% | | Manufactured Home Loans | 1.00% | | Loan Assumptions | .50% | |
