What is the VA funding fee for active duty borrowers?

What is the VA funding fee for active duty borrowers?

• A. 2.15%
• B. 1%
• C. 0%
• D. 3%

Answer: (A)

Understanding VA funding fee structure: The VA charges a one-time funding fee to help fund the loan program. For active-duty borrowers using a VA loan for the first time and not making a down payment, the funding fee is 2.15%. This amount is commonly financed into the loan. If the borrower makes a down payment or is using the loan after a previous VA loan, the fee percentage changes in those scenarios. In some cases, the funding fee can be waived for borrowers with qualifying service-connected disabilities or other eligibility criteria. So, in the standard active-duty, first-time use with no down payment situation, the correct rate is 2.15%.

Understanding VA funding fee structure: The VA charges a one-time funding fee to help fund the loan program. For active-duty borrowers using a VA loan for the first time and not making a down payment, the funding fee is 2.15%. This amount is commonly financed into the loan. If the borrower makes a down payment or is using the loan after a previous VA loan, the fee percentage changes in those scenarios. In some cases, the funding fee can be waived for borrowers with qualifying service-connected disabilities or other eligibility criteria. So, in the standard active-duty, first-time use with no down payment situation, the correct rate is 2.15%.