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Below are tables for VA upfront funding fees. There is no monthly insurance premium for VA guaranteed loans. Also, some veterans who have a service related disability may qualify for a 0% funding fee.
| Downpayment |
1st Time Use |
Subsequent Use |
| $0 to 4.99% |
2.15% |
3.30% |
| 5% to 9.99% |
1.50% |
1.50% |
| 10% or More |
1.25% |
1.25% |
| | |
|
1st Time Use |
Subsequent Use |
|
2.30% |
3.60% |
| | |
|
1st Time Use |
Subsequent Use |
|
0.50% |
0.50% |
| | |
|
1st Time Use |
Subsequent Use |
|
0.50% |
0.50% |
| | |
These items apply to both purchase and refinance loans.
|
| Upfront Funding Fee | 1.75% |
| Monthly Premium - 30yr | |
| >95% Loan-to-Value | 0.55% of average yearly balance / 12 |
| <=95% Loan-to-Value | 0.50% of average yearly balance / 12 |
| Monthly Premium - 15yr | |
| >90% Loan-to-Value | 0.40% of average yearly balance / 12 |
| <=90% Loan-to-Value | 0.15% of average yearly balance / 12 |
| Monthly Premium - Streamline Refi | 0.55% of average yearly balance / 12 |
| Automatic Cancelation | If you started at <=90% Loan-to-Value the monthly MI cancels after 11 years. Otherwise it stays on there for the life of the loan. |
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