Who said the government is trying to raise money?? Va fees will be reduced in Peoria, AZ Sun City AZ Surprise AZ and VA Loans Glendale AZ starting Oct 1, 2011. On VA loan that will save you money. Often times after a brief education of a VA loan a Veteran decides this is a great option for numerous reasons. VA mortgage in Peoria, AZ Sun City AZ Surprise AZ and Glendale AZs are not only Assumable, meaning when interest rates rise and the Veteran sells the home the new buyer will get today’s low rates, but there is no mortgage insurance even if you put zero down. I always recommend to my Veterans to do a 5% down option, if available, so the funding fee is cut more than half. Below is the graph to show the old fee and the new fees starting Oct. 1 2011.
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Loan Fee Structure for Guaranteed Loans |
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Veteran |
Reservist/National Guard |
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First Time Use |
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Down payment: Less than 5 percent*: |
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- October 1, 2004 until October 1, 2011 |
2.15% |
2.40% |
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- On or after October 1, 2011 At least 5 percent but less than 10 percent: |
1.40% |
1.65% |
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- Before October 1, 2011 |
1.50% |
1.75% |
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- On or after October 1, 2011 10 percent or more: |
0.75% |
1.00% |
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- Before October 1, 2011 |
1.25% |
1.50% |
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- On or after October 1, 2011 |
0.50% |
0.75% |
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Second and Subsequent Use |
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Down payment: Less than 5 percent*: |
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- October 1, 2007 until October 1, 2011 |
3.30% |
3.30% |
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- October 1, 2011 until October 1, 2012 |
2.80% |
2.80% |
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- October 1, 2012 until October 1, 2013 |
2.15% |
2.15% |
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- On or after October 1, 2013 At least 5 percent but less than 10 percent |
1.25% |
1.25% |
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- Before October 1, 2011 |
1.50% |
1.75% |
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- On or after October 1, 2011 10 percent or more |
0.75% |
1.00% |
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- Before October 1, 2011 |
1.25% |
1.50% |
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- On or after October 1, 2011 |
0.50% |
0.75% |
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