VA - FUNDING FEE Change's Release Date to November 18th
Last month, September 9th, 2011, Valley West Mortgage released a blog post that stated "VA FUNDING FEE CHANGES". The Date that those Changes took place was originally OCtober 1st, 2011.
November 18th, 2011
is the new effective date for the VA FUNDING FEE changes. What the Funding Fee's will be, will be confirmed at a later date by the VA.
USDA FUNDING FEE CHANGES!
For Purchase transactions, the up-front guarantee fee will be lowering from 3.50% to 2.00%.
An Annual fee ( similar to FHA's annual fee) of 0.30% will be implemented, in addition to the up-front guarantee fee.
These Changes are effective for loans with Conditional Commitments issued on, or after Saturday October 1, 2011.
Feel free to contact us anytime to discuss this topic!