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Updated VA Funding Fees 2023

Updated VA Funding Fees 2023

VA announced an update to the VA funding fee charges for the VA home loan program. The VA funding fees, increased in 2020, are now reverting to their original lower rates, starting on loans closing on or after 4/7/23. This is excellent news for Veterans and military families.

VA Purchase or Construction Loans

Down Payment AmountFunding Fee Percentage
First UseLess than 5%2.15%
5% or more1.50%
10% or more 1.25%
Subsequent UseLess than 5%3.30%
5% or more1.50%
10% or more1.25%
Disabled VeteranExempt

VA Cash-Out Refinance

Funding Fee Percentage
First Use2.15%
Subsequent Use3.3%
Disabled VeteranExempt

Other VA Home Loan Types

Loan TypeFunding Fee Percentage
Interest Rate Reduction Refinance Loans (IRRRLs)0.5%
Manufactured Home Loans (not permanently affixed)1%
Loan Assumptions0.5%
Native American Direct Loan (Non-IRRRL)1.25%
Disabled VeteranExempt
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Josh Klenda


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