Pennymac is aligning with VA Circular 26-23-06, Funding Fee Charge Update which reduces the funding fee rates for non-exempt Veterans on VA loans closed on or after 4/7/2023 and prior to 11/14/2031.
Please refer to the below table for a detailed breakdown of the funding fee rates in effect up to and including 4/6/2023 compared to the fees on or after 4/7/2023. The table also shows the VA Funding Fees for Purchase, Construction Loans and VA Cash-Out Refinance transactions.
Note: the funding fee for VA IRRRLs are not impacted by this change.
Please contact your Sales Representative with any questions.