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National rates Oct 22

  • 30-yr fixed 7.34% 7.42% APR Down0.02
  • 15-yr fixed 6.76% 6.87% APR Up0.03
  • FHA 30-yr 7.17% 7.22% APR Down0.05
  • VA 30-yr 7.14% 7.21% APR Down0.01

Operated by Full Beaker, Inc. NMLS #1019791

Rate assumptions

  • Getting ready

    • Down payment gifts Who can give, and the letter lenders ask for
    • Seller contributions How much a seller can pay toward closing costs
    • Low-income home loans Programs with small down payments
    • Zero-down home loans Where 100% financing is available

    Getting approved

    • Letters of explanation How to write one, with examples
    • Large bank deposits Why underwriters ask about them
    • Appraisal problems Five issues that can delay approval
    • Low credit scores FHA options when your score is low

    Special situations

    • Rent your house and buy another
    • Rent out your primary residence
    • Duplexes, triplexes and fourplexes
    • Buying with co-owners

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    All home buying articles First-time buyers

  • Low down payment

    • Conventional 97 3% down on a conventional loan
    • HomeReady 3% down, with income limits
    • FHA loans 3.5% down with a 580 credit score
    • FHA 203(k) Buy and renovate with one loan

    No down payment

    • VA loans For veterans, service members and eligible spouses
    • USDA loans For homes in eligible rural and suburban areas

    Other loans

    • Conventional loans Requirements and guidelines
    • Jumbo loans Loans above the conforming limit
    • Piggyback loans A second mortgage in place of PMI

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    FHA VA USDA Conventional

  • Refinance options

    • Conventional refinance Lower your rate or change your term
    • FHA streamline refinance Refinance an FHA loan with less paperwork
    • FHA cash-out refinance Borrow against your equity
    • Investment property cash-out Rules for rental properties

    Home equity

    • HELOCs How a home equity line of credit works
    • Cash-out refinance or HELOC? Two ways to use your equity
    • Home improvement loans Ways to pay for a renovation

    Mortgage insurance

    • FHA MIP refund chart How much of the upfront premium comes back
    • Remove FHA mortgage insurance When MIP can come off

    See what you could save

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    All refinance articles Cash-out refinance

  • National purchase rates · October 22

    LoanRateAPRChange
    30-year fixed 7.34% 7.42% Down0.02
    20-year fixed 7.10% 7.20% Down0.11
    15-year fixed 6.76% 6.87% Up0.03
    5-year ARM 6.36% 6.88% Up0.07
    FHA 30-year fixed 7.17% 7.22% Down0.05
    VA 30-year fixed 7.14% 7.21% Down0.01

    Mortgage rates

    • Compare rate quotes Rates from lenders in our network
    • Mortgage rate news What is moving rates
    • How we report rates The loan assumptions behind these rates
  • News
Get a free quote
  • Buy a home

    Getting ready

    • Down payment gifts
    • Seller contributions
    • Low-income home loans
    • Zero-down home loans

    Getting approved

    • Letters of explanation
    • Large bank deposits
    • Appraisal problems
    • Low credit scores

    Special situations

    • Rent your house and buy another
    • Rent out your primary residence
    • Duplexes, triplexes and fourplexes
    • Buying with co-owners
    All home buying articles First-time buyers
  • Loan programs

    Low down payment

    • Conventional 97
    • HomeReady
    • FHA loans
    • FHA 203(k)

    No down payment

    • VA loans
    • USDA loans

    Other loans

    • Conventional loans
    • Jumbo loans
    • Piggyback loans
    FHA VA USDA Conventional
  • Refinance

    Refinance options

    • Conventional refinance
    • FHA streamline refinance
    • FHA cash-out refinance
    • Investment property cash-out

    Home equity

    • HELOCs
    • Cash-out refinance or HELOC?
    • Home improvement loans

    Mortgage insurance

    • FHA MIP refund chart
    • Remove FHA mortgage insurance
    All refinance articles Cash-out refinance
  • Rates

    Mortgage rates

    • Compare rate quotes
    • Mortgage rate news
    • How we report rates
  • News
Get a free quote

Operated by Full Beaker, Inc. NMLS #1019791

What is the VA Funding Fee

By Rose McMackin Contributor

August 10, 2020 1 min read

What is the VA Funding Fee

Rose McMackin

MyMortgageInsider.com Contributor

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