How do I determine my VA funding fee?

As a lender who is also a Veteran, this is the question I get asked the most. It is tricky so I will post the VA link 1st. http://benefits.va.gov/homeloans/documents/docs/funding_fee_table.pdf So, the 1st question to ask, is "Do you get disability from the VA?", if yes then no funding fee, if no then answer the next question. "Have you ever used your VA Benefit for buying a home?" If Yes or No, will determine the base fee, then depending on how much you want to put down will finish the equation. The percentage you see in the Chart is the percenatge of the base loan amount. That amount can be rolled to the loan instead of being paid by you at closing. If you have any other VA Loan questions please let me know. I cant answer how much you would qualify for total without knowing your current debt and income numbers. -Jeff Schnell NMLS 409473 316-206-3158 JSchnell@BNCBank.com

There are several factors that determine your VA funding fee:1. Type of service, Regular Military or Reserves/National Guard2. First-time use or subsequent use3. Type of loan, purchase or refinance (regular, cash out or interest rate reduction)4. Down payment amount on a purchaseIf you have at least at 10% VA disability, you are exempt from the VA funding fee.Your maximum funding or mortgage amount is determined by your COE.My name is Gina Bell. I am a local mortgage broker in Albuquerque, a Certified Residential Mortgage Specialist (CRMS), and Certified through USA Cares as a military specialist. I would be happy to provide you with the amount of your funding fee or you can go to: http://benefits.va.gov/homeloans/documents/docs/funding_fee_table.pdf and use the funding fee table provided on the VA website. I can typically obtain your COE for you online. Feel free to give me a call at 505-323-0724 or you can email me at gina@accessfundinginc.com. NMLS #222731