The VA Funding Fee Rate is a one-time payment required for most VA home loans. The exact rate depends on your loan type, down payment, and military status. Below are the latest VA Funding Fee Rates for 2024.
Purchase & Construction Loan VA Funding Fee Rates
| Type of Veteran | Down Payment | First-Time Use | Subsequent Use |
|---|---|---|---|
| Regular Military | None | 2.15% | 3.3%* |
| Regular Military | 5% or more | 1.5% | 1.5% |
| Regular Military | 10% or more | 1.25% | 1.25% |
| Reserves/National Guard | None | 2.4% | 3.3%* |
| Reserves/National Guard | 5% or more | 1.75% | 1.75% |
| Reserves/National Guard | 10% or more | 1.5% | 1.5% |
Cash-Out Refinancing Funding Fee Rates
| Type of Veteran | First-Time Use | Subsequent Use |
|---|---|---|
| Regular Military | 2.15% | 3.3%* |
| Reserves/National Guard | 2.4% | 3.3%* |
Other VA Loan Funding Fee Rates
| Type of Loan | VA Funding Fee Rate |
|---|---|
| IRRRLs (Interest Rate Reduction Loans) | 0.50% |
| Manufactured Home Loans (NOT permanently affixed) | 1.00% |
| Loan Assumptions | 0.50% |
How to Find the Latest Guidance
For the most up-to-date VA Funding Fee Rate information, visit the VA Lenders Handbook – VA Pamphlet 26-7. Click Chapter 8 to view complete guidance on borrower fees and VA funding fee rates.
💡 Tip: If you’re exempt from the VA funding fee, you could save thousands on your home loan. Be sure to check your eligibility before closing!
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