Good News!!!

The Veteran's Administration is lowering the VA funding fee October 1st 2011.

Effective Change Date: VA Loans Funded after September 30, 2011
Loan Type	Veteran Type	Down Payment	First Time Use		Subsequent Use
			Current	New	Current	New
Purchase	Regular Military	None 5% (up to 10%) 10% or more	2.15% 1.50% 1.25%	1.40% 0.75% 0.50%	3.30% 1.50% 1.25%	2.80% 0.75% 0.50%
Purchase	Reserves/ National Guard	None 5% (up to 10%) 10% or more	2.40% 1.75% 1.50%	1.65% 1.00% 0.75%	3.30% 1.75% 1.50%	2.80% 1.00% 0.75%
Cash-Out Refinance	Regular Military	Not Applicable	2.15%	1.40%	3.30%	2.80%
Cash-Out Refinance	Reserves/ National Guard	Not Applicable	2.40%	1.65%	3.30%	2.80%