New savings for VA buyers

New savings for VA buyers

Fantastic news for all VA buyers!  Starting October 1, 2011 the VA is lowering its funding fee rates for home mortgages!  The funding fee is what the VA charges you to insure the loan.  It is not an out of pocket expense at the time that you purchase, but it is added to to the total cost of the loan and does affect your monthly payment.

Currently the charge when you initially use your VA eligibility has been 2.15% of the purchase price for your first home purchase.  That rate will be going down to 1.40% in October.  If this is not the first time you have used your VA eligibility to purchase a home the current rate is 3.30% of the purchase price and that will be going down to 2.15% in October

So on a purchase price of $200,000 you would be saving a total of $1,500 on your VA funding fee if it was the first home purchase you had made using a VA loan, if it was a subsequent use of your VA benefit then your savings would be $2,000 on your funding fee.

With fantastic interest rates and a great selections of homes available to choose from, this makes it an even better time to buy now!!


Brandi Rademacher Headshot
Author:
Phone: 253-224-6663
Dated: September 23rd 2011
Views: 1,466
About Brandi: Brandi Rademacher with RE/MAX Realty South is the Professional Realtor who other Realtors come to fo...

Property Search









RSS Feed

View our latest blog posts in your RSS reader. Click here to access. RSS

Search Blog

Recent Blogs

HOME OF THE WEEK OCT 2020 - CONDO - 2 bedroom/2 bathroom 
Home Of The Week 1212 32nd St NE Auburn 98002 - Lovely home with new carpets and
Refinance Will They Implement A New Fee And Increase Costs 20200906 - Increase costs and new fee for
How Is Remote Work Changing Homebuyer Needs - According toGeorge Ratiu,Senior

Saved Properties

This is a list of your favorite properties. We will email you if a property is reduced or leaves the market.

Click 'Save' to add a property to this list.

Register / Login

New & returning visitors please enter your information to login.

By clicking 'register' you are agreeing to our terms of use & giving us expressed written consent to contact you.

Questions? Comments? Complaints?

This message will go directly to the head of our team.

Location & Address

RE/MAX Realty South
4329 A St SE, Ste E
Auburn, WA
360-529-3350
253-397-4912

Other Locations