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Find Your LenderResources » VA loan programs
The Department of Veterans Affairs (VA) guarantees loans to help qualified veterans, reservists, and active-duty service members to finance their homes. VA loans do not require a down payment but do require an upfront funding fee that can be financed into the loan. Currently, the funding fee required for a first time use, no down payment VA loan is 2.15% of the loan amount. VA loans do not have a monthly mortgage insurance premium requirement even if you exceed 80% loan to value.
The funding fee will carry on VA loans depending on use type. The current VA funding fees are as follows:
Regular military members:
| Use Type | Funding Fee Percentage |
| 1st time use, 0% down payment | 2.15% |
| 1st time use, up to 10% down payment | 1.50% |
| 1st time use, 10% or more down payment | 1.25% |
| Subsequent users, no down payment | 3.30% |
| Subsequent users, up to 10% down payment | 1.50% |
| Subsequent users, 10% or more down payment | 1.25% |
| 1st time use, cash-out refinancing | 2.15% |
| Subsequent users, cash-out refinancing | 3.30% |
| Interest rate reduction loan (VA Streamline) | 0.50% |
Reservists/National Guard
| Use Type | Funding Fee Percentage |
| 1st time use, 0% down payment | 2.40% |
| 1st time use, up to 10% down payment | 1.75% |
| 1st time use, 10% or more down payment | 1.50% |
| Subsequent users, no down payment | 3.30% |
| Subsequent users, up to 10% down payment | 1.75% |
| Subsequent users, 10% or more down payment | 1.50% |
| 1st time use, cash out refinancing | 2.40% |
| Subsequent users, cash-out refinancing | 3.30% |
| Interest rate reduction loan (VA Streamline) | 0.50% |
Not all VA eligible borrowers have to pay the funding fee. The following people do not have to pay the VA funding fee.
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