VA Funding Fee update October 6, 2011

Real Estate Agent with Keller Williams Realty DTC

In many areas of life today, the only constant is change. This is especially true in the mortgage industry. Nothing like moving the goal posts during a game to keep make things exciting. Here is the latest update on VA Funding fees.

The White House announced yesterday that the President signed H.R. 2646: Veterans Health Care Facilities Capital Improvement Act of 2011, which reverts the Veterans Affairs Funding Fees back to the higher pre-October 1st percentages. The reduced VA Funding Fee schedule, in Circular 26-11-12, would apply for a very short period of time, theoretically for loans that closed during October 1 through October 4. VA is expected to provide guidance on the exact validity period for the reduced VA Funding Fee set forth in Circular 26-11-12, but it is likely that the guidance will come first via the VA Funding Fee payment process. Please note that the VA Funding Fee is scheduled to change again for certain loans on or after November 18, 2011. 

Hopefully, the Funding Fee for veterans with a service related disability will remain at zero. Will advise when I know more about upcoming changes. Maybe we will get lucky and the new policy will last longer than four days. 

Chip Allen

Crestline Mortgage Bankers

A Division of Universal Lending Corp                                     

Direct: 303.947.2109 

Fax: 303.987.0676

Colorado Mortgage Broker License # 100019831

NMLS# 378621 

Your Lender for Life! 

When people you care about need a mortgage,

for purchase or refinance, please do not keep me a secret.

Click here to Get started searching for YOUR Colorado Dream Home.


This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
ActiveRain Community
Colorado Denver County Denver
universal lending
va funding fees
dan polimino
chip allen
crestline mortgage bankers
funding fee for veterans

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Scott Fogleman
Witt-Fogleman Team 434-941-8847 - Forest, VA
Witt-Fogleman, Inc. - Bedford, Lynchburg, and Roan

Thanks for keeping us posted.

Oct 13, 2011 05:29 AM #1
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?


Colorado Dream House Team

Real People. Real Professionals. Real Estate
Ask me a question
Spam prevention