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Are you or someone you know looking to use your va loan for the first time?

👉Need more information on a VA Loan make sure to visit me at https://www.RodFerrier.com

On this edition of Mortgage Talk Live, we're going to discuss the VA funding fee.

👉My name is Rod Ferrier and I am a licensed loan originator as well as a U.S.. Navy veteran.

If you are using your VA loan for the first time, your funding fee will be 2.3%.

👉So on a $400,000 purchase that equals $9,200 for a final loan amount of $409,200

The VA funding fee is simply a fee that is added to the loan/ financed into the loan/ to cover any expenses in the event that someone should default on their mortgage.

Something to keep in mind is that the department of veteran affairs does not lend the money for va loans. So if the loan defaults, the taxpayers are on the hook.

👉One of the main objectives of the funding fee is to help taxpayers avoid carrying the full burden

🔺TOP 3 VA Home Loan Benefits:
✔️ No downpayment required.
✔️ No Mortgage Insurance needed
✔️ Easy qualifying

❥ Make sure to watch the video to learn more on VA Home Loans Explained.

Military veterans can leverage their VA loan to obtain 100% Financing

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👉 Want to see how much you may qualify for? 👈

Let’s get started with my hassle-free pre-qualification process today.

Have additional questions and want answers? Visit https://calendly.com/rodferrier/mortgage

to find a time on my calendar that works for you.

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🔷Home Loans In Virginia And Maryland🔷

Rod Ferrier is a licensed loan originator in Virginia and Maryland.

A U.S. Navy Veteran, father of four, he began his career as a loan officer in 2002.

He specializes in assisting his clients to navigate the home buying process towards homeownership.

His clients include Veterans, first time home buyers, families looking to purchase a bigger home, as well as empty-nesters seeking to downsize.

Rod’s background in financial planning provides his clients with the opportunity to benefit from the wealth created by strategically purchasing the right home.