Sunday, January 19, 2014

2014 Kentucky VA Loan Funding Fee Chart

VA Funding Fee Chart for Kentucky VA Mortgage Loans below:
PURCHASE LOANS
 
The funding fee for ALL subsequent use loans closed on or after October 1, 2006, and before October 1, 2007, is 3.35 percent. This applies to all purchase loans where no down payment of 5 percent or more is made as well as cash-out refinances where the fee would have been 3.3 percent. Effective October 1, 2007, the subsequent use fee reverts back to 3.3 percent.
 
Type of Veteran                Down Payment               %  for First Time Use                % for Subsequent Use
Regular                                None                                     2.15%                                     3.3%
Military                                5% or more (up to 10%)       1.50%                                     1.50%
                                            10% or more                          1.25%                                     1.25%
 
Reserves/                            None                                       2.4%                                       3.3%
 National Guard                    5% or more                            1.75%                                    1.75%  
                                              10% or more                          1.50%                                    1.50%
 
 
CASH OUT REFINANCE LOANS
 
Type of Veteran                                                    % for First Time Use                    % for Subsequent Use
Regular Military                                                            2.15%                                        3.3%
Reserves/National Guard                                            2.4%                                           3.3%
 
Note:  There are no reduced funding fees for regular refinances based on equity.
 
IRRRLs  & Other Loan Type
 
Type of Loan                                        % for Either Type of Veteran WHether First Time or Subsequent Use        
IRRRLs                                                                                                    .50%
Manufactured Home Loans (Not permanently attached)                 1.00%
Loan Assumptions                                                                                    .50%




Joel Lobb
Senior  Loan Officer
(NMLS#57916)

American Mortgage Solutions, Inc.
800 Stone Creek Pkwy, Ste 7,
Louisville, KY 40223

 phone: (502) 905-3708
 Fax:     (502) 327-9119

 Company ID #1364 | MB73346





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