What is the VA Funding Fee percentage for most transactions?

The VA Funding Fee for most transactions is 2.15%. This fee helps to sustain the VA loan program, which benefits veterans and active service members by providing financing options with favorable terms. The funding fee can vary depending on various factors including the type of loan, whether it’s the first use of the VA loan benefit, and the veteran's service category.

For first-time users of the VA home loan benefit, the standard fee is typically 2.15%. If a veteran has previously used the VA loan benefit, the funding fee may increase, such as in cases where it can rise to 3.30% for subsequent use. It’s important for borrowers to be aware of the funding fee and how it affects the overall costs of obtaining a VA loan. Understanding these figures helps in planning for upfront costs and may also influence decisions related to loan structuring and budgeting.