VA Loan Funding Fee Changes For Fort Meade MD Home Buyers

Fort Meade Real Estate News from The Roskelly Team -  Important Update For VA Home Buyers.  

 

If you are a Veteran planning to use your VA benefit to purchase a home next year, you'll want to know that beginning on January 1, 2020, the VA funding fee is going to increase slightly as shown below.

Current                 2.15%    1^st time users                     As of 1/1/2020                   2.3%

 

Current                 3.3%      2^nd time user                      As of 1/1/2020                   3.6%

 

The VA funding fee is usually financed into the loan amount though you can opt to pay it in full at settlement.
If you opt to finance this into the loan amount , as result this will not increase fund needed at closing.

As an example, if you are a first time VA loan purchaser considering a $300,000 home, the rate changed from $6,450 to $6,900 or $450.  A very nominal change considering the benefits you reap from a no down-payment VA loan.  

If you're considering a home purchase, The Roskelly Team at RE/MAX Leading Edge would love to represent you.

Ready to start your home search?  Visit us on-line at www.FortMeadeHomes.com.  Or give us a call anytime at (410) 721-6694 and we can customize your home search for you so that you receive daily updates on newly listed homes or price changes.

Need a great lender to get you pre-qualified for a VA loan?  Click here for an on-line mortgage application with our preferred lender, Pete O'Donnell.