Important VA Funding Fee Changes! (Please Read)

VA Funding Fee Changes

Effective Date: Loans Funded October 1, 2011 and After

Loan Products Affected: VA Purchase and Refinance Transactions

Pipeline Loans Affected: VA Loans Funded October 1, 2011 and After

Geographic Restrictions: None

Now that you’ve read this far, breathe a sigh of relief. Contrary to the trend lately, the VA Funding Fees are set to decrease for VA transactions (except for VA IRRRLs) funded October 1, 2011 and after. See the graph below to see how this will affect your VA Buyers moving forward.

NOTE: If your clients have a VA loan closing with my team and I after the October 1 date, rest assured, we’ve already made the change and are communicating this positive change today. - Steve

*Should Congress pass legislation making additional changes to the funding fee structure, VA will issue a Circular to advise us of the change. As your mortgage lending partner, I will notify you immediately upon receipt of this information.