Kentucky VA Funding Fee Chart

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Kentucky VA Funding Fee Explained

The Kentucky VA Funding Fee is paid directly to the Department of Veteran’s Affairs and is the reason they can guarantee this no-money-down loan program. This fee is paid so that VA eligibile borrowers can enjoy loan benefits such as $0 down financing and no PMI payments.

Kentucky VA Funding Fee Chart

The Kentucky Funding Fee is calculated by looking at 5 different factors: Loan amount, loan type (Purchase or Refinance), type of service, down payment (if any) and prior Kentucky VA loan use. Take a look at the charts below to see how the va funding fee varies based on these factors.

  Purchase – First Time Use
Down Payment Active Duty/Retired Guard/Reserve
$0 Down 2.15% 2.40%
5-10% Down 1.50% 1.75%
10% or More 1.25% 1.50%
  Purchase – Additional Use
Down Payment Active Duty/Retired Guard/Reserve
$0 Down 3.30% 3.30%
5-10% Down 1.50% 1.75%
10% or More 1.25% 1.50%
  Cashout Refinance
VA Usage Active Duty/Retired Guard/Reserve
1st Time Use 2.15% 2.40%
Additional Use 3.30% 3.30%
  IRRL (Interest Rate Reduction Loan)
VA Usage Active Duty/Retired Guard/Reserve
1st Time Use 0.5% 0.5%
Additional Use 0.5% 0.5%

How the Funding Fee is Paid

The Kentucky VAfunding fee doesn’t need to be ‘paid’ separately and is typically rolled into the loan. This is a big benefit to borrowers looking to take advantage of the $0 down benefit of the VA loan. Not only do borrowers not need to put anything down, but they can also finance the VA funding fee as well.

Kentucky VA Funding Fee Exemption

Borrowers are exempt from paying the funding fee if they receive any disability payments from the Kentucky VA or are considered at least 10% disabled.

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