VA and FHA Reduced Loan Fees Even With Low Credit and Scores to 500

VA and FHA Reduced Loan Fees

The VA and FHA both reduced their fees resulting in lower loan amounts and payments.  FHA reduced their MIP effective February 22, 2023, and the VA shortly after reduced their funding fee effective April 7, 2023.   The reduced fees apply to automated approved and manually underwritten loans even down to 500 Credit scores.

VA Reduced Funding Fees

FHA Reduced Mortgage Insurance Premium (MIP)