Big Changes to VA Funding Fees in January

Here in the OKC Metro area, we are extremely grateful for the impact of our military. Their service to our country is undeniable and we are forever grateful. We also greatly appreciate how those serving at Tinker Air Force Base add to our community.

The VA loan is a wonderful perk offered to those who have served. It is our country's way of saying "thank you" to our military. In the quickly approaching new year, big changes are coming to the VA loan. If you were thinking of buying a home soon, now may be the time to get off the fence and buy!

In January of 2020, the VA funding fee will be increasing from 2.15% for first time buyers to 2.3% and from 3.3% for second time users up to 3.6%. While these may appear to be small increases in percentage, this could mean big changes for buyers. For instance, if you're a second buyer purchasing a $275,000 home, right now the funding fee will cost you $9,075. In a little over a month, it will cost $10,800! 

That could be more than $1,700 more added onto the purchase of a new home! 

If you've been on the fence about purchasing a home, now is definitely the time! This new increase is quickly approaching and there's no reason to cost yourself more money. While the perks of a VA loan are undeniable, changes like this will cost you more money. Purchase now to lock in this lower funding fee rate while you can! 

I work closely with military families as a relocation specialist and know the ins and outs of these loans. Interest rates are currently low. I can negotiate your closing costs and prepaids. Plus, my services to you are absolutely FREE!

Give me a call today to start the process of buying a home while these funding fees are still low. I would love to help you find your next home! (405) 531 9828