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The VA funding fee for borrowers using the VA streamline refinance (IRRRL) is 0.5 % regardless of service history or prior usage (unless it is exempted).<\/p>\n
The funding fee for Cash-Out refinance and for VA purchase loans are quite similar, except borrowers cannot lower the VA funding fee by making a down payment or using equity.<\/p>\n
The VA funding fee rates on VA Cash-Out refinance loans for Veterans, active military and Reserves, and National Guard members for first-time users is 2.30% and after the first use, the funding fee is 3.60%.<\/p>\n
The mortgage lenders do not control who must pay the VA funding fee or on the specific amount. <\/p>
The veteran’s Certificate of Eligibility (COE) typically indicates if they need to pay the VA funding fee.<\/p>\n
Those required to pay the VA funding fee should make it at the time of closing. The lender is responsible for collecting the funding fee and sending it directly to the VA.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t