Amount Financed: Purchase Price (-) Down Payment (+) VA Funding Fee
VA Funding Fee:
The VA Funding Fee is paid to the VA to help fund the program and varies depending on
type of service, loan amount, down payment and subsequent VA Loan usage. This fee can
be paid in cash at closing, but most borrowers choose to roll this cost into their
monthly payments.
The VA Funding Fee is waived for Veterans entitled to VA compensation for a
service-connected disability and surviving spouses of Veterans who died in service
or as a result of a service-connected disability.
Estimated Taxes & Insurance: Property taxes are generally estimated to be 1.2% of the home's value, but may vary based on your location. Annual homeowners insurance is roughly 0.35% of the home's value but can change based on insurer. Your Loan Officer can help you determine property tax and insurance rates in your area.
