Fantastic news for all VA buyers! Starting October 1, 2011 the VA is lowering its funding fee rates for home mortgages! The funding fee is what the VA charges you to insure the loan. It is not an out of pocket expense at the time that you purchase, but it is added to to the total cost of the loan and does affect your monthly payment.
Currently the charge when you initially use your VA eligibility has been 2.15% of the purchase price for your first home purchase. That rate will be going down to 1.40% in October. If this is not the first time you have used your VA eligibility to purchase a home the current rate is 3.30% of the purchase price and that will be going down to 2.15% in October
So on a purchase price of $200,000 you would be saving a total of $1,500 on your VA funding fee if it was the first home purchase you had made using a VA loan, if it was a subsequent use of your VA benefit then your savings would be $2,000 on your funding fee.
With fantastic interest rates and a great selections of homes available to choose from, this makes it an even better time to buy now!!
Author:Brandi Rademacher Phone: 253-224-6663 Dated: September 23rd 2011 Views: 1,429 About Brandi: Brandi Rademacher with RE/MAX Realty South is the Professional Realtor who other Realtors come to fo...
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Brandi Rademacher with RE/MAX Realty South is the Professional Realtor who other Realtors come to for advice. With the experience of hundreds of successful transactions to her name, she has the knowledge and experience to make even the most difficult transactions appear to her clients as typical.
Brandi has been a Realtor since 2004, and has since expanded her expertise by successfully completing her ABR (Accredited Buyers Representative), ASR (Accredited Seller Representative), CDPE (Certified Distressed Property Expert) and E-PRO. These designations mean that Brandi can expertly represent both Buyers and Sellers. The CDPE designation means Brandi is one of a select few in the state who has trained extensively to u nderstand the options, solutions and effective methods for dealing with homeowners dealing with hardships, short sales, and foreclosures.
Brandi has a full team of professionals to serve all her clients needs in both residential and commercial transactions. She has an office manager, financial lender, property inspector, and a virtual assistant, all of who provide the client with a “one stop shopping” experience.
“My team and I are responsible for our clients and their needs. They place a huge trust in my team, so I strive diligently for perfection on a daily basis”.
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" Brandi spent an entire Saturday running my husband (who had just flown in for a couple days from Connecticut) all around to different towns near and far from the Olympia area. She was very friendly and professional in every interaction we have had, and she always looked out for our best interests. I believe she sincerely wanted to help us find the perfect house to suit our preferences. In addition, she drove to several homes that we were interested in and made videos so that we could get a clear idea of what the houses and neighborhoods were like. I wholeheartedly recommend working with Brandi! Best experience we've ever had with a realtor, hands down. "