Definitions for "VA Mortgage Funding Fee"
A premium paid on a VA guaranteed loan. The Funding Fee currently (1/03/2005) ranges currently up to 3.3%, depending on the Veteran's status and number of times they have used their VA entitlement.
A premium paid on a VA-backed loan. Can be either paid at closing or added to the amount financed.
premium of up to 1 7/9 percent (depending on the size of the down payment) paid on a VA backed loan. For example, on a $75,000, 30-year fixed-rate mortgage with no down payments, $1,406 would either be required at closing or added to the amount financed.