Where do these numbers come from?
- Instant answersResults update as you type.
- Private by designRuns in your browser. Nothing is sent.
- Share, print or citeCopy a link with your numbers.
Purchase and construction loans
| Down payment | First use | After first use |
|---|---|---|
| Less than 5% | 2.15% | 3.3% |
| 5% or more | 1.5% | 1.5% |
| 10% or more | 1.25% | 1.25% |
Refinances
| Loan type | First use | After first use |
|---|---|---|
| Cash-out refinance | 2.15% | 3.3% |
| Interest rate reduction refinance (IRRRL) | 0.5% | 0.5% |
Dollar examples (0% down purchase)
| Loan amount | First use (2.15%) | Subsequent (3.3%) |
|---|---|---|
| $200,000 | $4,300 | $6,600 |
| $300,000 | $6,450 | $9,900 |
| $400,000 | $8,600 | $13,200 |
| $500,000 | $10,750 | $16,500 |
| $750,000 | $16,125 | $24,750 |
Exemptions
You do not pay the fee if you receive VA compensation for a service-connected disability (or would, if not receiving retirement or active-duty pay), are a surviving spouse receiving DIC, or are an active-duty service member with a Purple Heart, among others. Your Certificate of Eligibility shows your status.
Sources and assumptions
- VA.gov: funding fee and closing costs (rates for loans closed April 7, 2023 to November 14, 2031)
Related
Frequently asked questions
How much is the VA funding fee?
For a first-time purchase with less than 5% down, 2.15% of the loan; 1.5% with 5% down; 1.25% with 10% down.
Is the VA funding fee refundable?
If you are later awarded disability compensation effective before your closing date, you may qualify for a refund. Contact VA.