The Veterans Administration is lowering the VA funding fee for our Military borrowers effective for loans closing after 9-30-2011.
The new VA funding fee will be dropping down to 1.40% from the current rate of 2.15%.
On a $400,000 loan that is a difference of $3000 down from $8600 to $5600.
“At InterCoastal we still do VA loans up to $1MIL and 100% financing is available for loans up to $700,000.”