VA Loan Program Overview

FlexPoint, Inc. is a direct lender for VA Loans, enabling us to quickly and efficiently process loans for veterans, military members, and their spouses. If you’re eligible, a VA loan offers excellent terms for purchasing or refinancing your home, with 30-year or 15-year fixed options available.

Key Benefits of VA Loans:

• • • No money down required
    • No private mortgage insurance (PMI)
    • Ability to refinance up to 100% of the appraised value of your home

Understanding the VA Funding Fee

The VA Funding Fee helps cover the costs of the VA loan program. This fee is not paid upfront but is financed into the loan and paid over its term. The amount varies based on military status, loan type, and down payment.

Regular Military Borrowers:

• • • First-time use: 2.3%
    • Subsequent use: 3.6%
    • 5%+ down payment: 1.65%

National Guard and Reserve Borrowers:

• • • First-time use: 2.65%
    • Subsequent use: 3.6%
    • 5%+ down payment: 1.65%

Certain veterans are exempt from this fee, including:

• • • Veterans receiving VA compensation for a service-connected disability
    • Veterans entitled to disability compensation but receiving retirement/active duty pay instead
    • Surviving spouses of veterans who died in service or from a service-connected disability

Funding Fee Details

The funding fee percentage can change annually, so be sure to check for the latest information. For qualified borrowers, the fee can be included in the loan, reducing upfront costs. To determine your exact funding fee, you can use the VA Funding Fee Chart, available on the VA’s website.

At FlexPoint, we’re committed to providing a smooth, personalized experience while helping you navigate the VA loan process with expertise and care. If you’re eligible, we’ll make sure you get the best terms possible.