Good News for REALTORS and VA Buyers: VA Funding Fee DECREASING!

By
Mortgage and Lending with SUNSTREET MORTGAGE, LLC (BK-0907366, NMLS 145171) NMLS 223495

VA funding fee DECREASING! Mike in Tucson, AZ Mortgage Lender

Effective for Loans closed on or after October 1, 2011, the VA funding fee will decrease dramatically!

REALTORS

If you are a REALTOR fortunate enough to be selling real estate in a military town like Tucson, AZ, this is great news.  The VA has not given us a complete chart yet; I will post again when that happens.  For the moment, this is what they have sent us.

VETERANS

If you're a Veteran looking to use your VA eligibility, this will reduce the upfront cost to you.  Call your favorite REALTOR and let them know that you are in the market to buy a home. 

Both home prices and mortgage rates are at the lows of your lifetime (or better) and now, the cost of the funding fee has been cut as much as 50%!  It's time to buy a home!

_____________________

I'm Mike in Tucson, your preferred Tucson Arizona Mortgage Lender

NMLS #223495

SUNSTREET MORTGAGE LLC ~ Correspondent Mortgage Bank
Offices in Mesa, Tucson, Sierra Vista & Nogales

 

Comments (25)

Jennifer Dominquez
Home Vision Realty - San Diego, CA
Realtor - San Diego California Homes For Sale

This is great news, Mike!  I will definitely have to spread the word out here in San Diego.  Lots of opportunity to take advantage of this.  Thanks for keeping us in the loop.

Aug 16, 2011 10:14 AM
Cindy Jones
Integrity Real Estate Group - Woodbridge, VA
Pentagon, Fort Belvoir & Quantico Real Estate News

Great news for those who do not qualify for a waived funding fee.  I'll spread the word in Northern Virginia.

Aug 16, 2011 10:47 AM
Bob Marsh
Warm Weather Real Estate - Mesa, AZ
Broker,480-529-2936, Warm Weather Real Estate

Mike, I've heard that if a veteran is receiving service related disability payments, these fees may be gifted.  Is that correct?

Aug 16, 2011 10:47 AM
Larry Brewer - Benchmark Realty llc
Benchmark Realty LLc - Nashville, TN

Mike - It's a strange day when fees are reduced for anything related to mortgages and the government. It's good news, but I'm confused by it.

Aug 16, 2011 11:03 AM
Lynda Eisenmann
Preferred Home Brokers - Brea, CA
Broker-Owner,CRS,CDPE,GRI,SRES, Brea,CA, Orange Co

Hey Mike,

Thanks a bunch, this is the first I've heard about it!

Aug 16, 2011 11:43 AM
Renée Donohue~Home Photography
Savvy Home Pix - Allegan, MI
Western Michigan Real Estate Photographer

Well good news for qualifying VA veterans for mortgages!  It's a first for me too!

Aug 16, 2011 11:48 AM
Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

Mike

The decrease in funding fees will help families buy homes.

Good luck and success.

Lou Ludwig

Aug 16, 2011 02:16 PM
Mike Jones
SUNSTREET MORTGAGE, LLC (BK-0907366, NMLS 145171) - Tucson, AZ
Mike Jones NMLS 223495

Lou,

Yes it will!  Thanks for stopping by.

Renee,

I'm glad to see you; thanks!

Lynda,

It's hot off the press!

Larry,

They're looking for anything that might make the political situation better, IMHO.

Bob,

If a veteran is receiving disability, part or all of the fee is waived, depending on the disability.

Cindy,

Good job!

Jennifer,

Good luck in San Diego!

Em,

AMEN!

Jeff,

We got it from our Govie Underwriter.

Kevin,

It's direct from VA.  We'll blog more as we receive more.

Mike in Tucson

Aug 16, 2011 02:23 PM
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

Mike, This IS great news. Our Vets need all the assistance we can give them in buying a home.

Aug 16, 2011 03:23 PM
Ann Heitland
Retired from RE/MAX Peak Properties - Flagstaff, AZ
Retired from Flagstaff Real Estate Sales

Nice.

Aug 16, 2011 03:58 PM
Sharon Alters
Coldwell Banker Vanguard Realty - 904-673-2308 - Fleming Island, FL
Realtor - Homes for Sale Fleming Island FL

Mike, this is so exciting! I have a VA buyer negotiating a contract right now - but it will be finalized before Oct. 1. I'm surprised we haven't heard anything from our local lenders about this yet. We know who is cutting edge, and that would be you!

Sharon

Aug 16, 2011 04:31 PM
Mike Mayer
Mike Mayer, Broker/Owner - i List For Less Realty, LLC - Lafayette, LA

This is terrific news! Thanks for posting and sharing the information, Mike.

Aug 16, 2011 05:33 PM
Sandy Acevedo
951-290-8588 - Chino Hills, CA
RE/MAX Masters, Inland Empire Homes for Sale

This is very good news. I hope it spreads all over.                                    

Aug 16, 2011 06:36 PM
Rosemary Brooks
BMC Real Estate - 209-910-3706 - Stockton, CA
The Mother & Daughter Realty Team

Great news, thanks for sharing it and I will reblog to be sure it gets to more

Aug 16, 2011 08:57 PM
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Thank you for the post and for sharing the good news. I will bookmark this post and share with others.

Aug 17, 2011 12:54 AM
Sherri Berry
Reliant Realty, Murfreesboro - Murfreesboro, TN
Murfreesboro TN Homes & Real Estate

Thanks for this great news!  This is the first I have heard on this decrease.  I am reblogging this to get the word out!

Aug 17, 2011 02:26 AM
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Good news and input plus so many vets don't know how they can move and shake in today's Real Estate arena

Aug 17, 2011 03:23 AM
Connie Harvey
Pilkerton Realtors - Brentwood, TN
Realtor - Nashville TN Real Estate

Mike, this is great news! I've always hated how high the funding fees were for the VA loans!

Aug 17, 2011 05:37 AM
Harry F. D'Elia III
RentVest - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

This is great news for this buyer segment. Now, let's close some deals

Aug 18, 2011 02:08 AM
1~Judi Barrett
Integrity Real Estate Services 118 SE AVE N, Idabel, OK 74745 - Idabel, OK
BS Ed, Integrity Real Estate Services -IDABEL OK

Great information, Mike.  AND October 1 is just around the corner.  This is going to make my clients very happy.

Sep 17, 2011 12:00 PM

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

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