what is the va funding fee amount
The VA refinance funding fee is a fee charged by the VA at the time of the loan. It is the only fee required by the VA, so beware if lenders try to tell you that the VA charges closing costs above and beyond the VA refinance funding fee. It is not true. The funding fee is 0.5% of the new loan amount. This fee may be paid in cash at closing or it may be rolled into the new loan. The funding fee is charged in lieu of monthly mortgage insurance. The VA does not require that vets take out private mortgage insurance that would have been the case with a conventional loan.