For a no down payment loan, the VA funding fee is currently 2.30% of the loan amount for first-time buyers. For veterans that use this benefit for a zero down mortgage a second time, the fee increases to 3.60% of the loan amount. Below are the most recent VA funding fee rates based on the purpose of your loan, your down payment, and whether you’re a first-time or repeat VA home loan benefits user:
|Type of loan||Down payment||First-time user||Subsequent user|
|Purchase and construction||0%||2.30%||3.60%|
|Purchase and construction||5% or more||1.65%||1.65%|
|Purchase and construction||10% or more||1.40%||1.40%|
|Cash-out and regular refinance||90% maximum loan-to-value (LTV) ratio||2.30%||3.60%|
|Interest rate reduction refinance loan (IRRRL)||No equity required||0.5%||0.5%|
Veterans with a service-connected disability may be exempt from paying the funding fee.