h. Funding Fee Tables

Purchase And Construction Loans

Note: The funding fee for regular military first time use from 1/1/04 to    9/30/04 is 2.2 percent.  This figure drops to 2.15 percent on 10/1/04.

Type of Veteran

Down Payment

Percentage for First Time Use

Percentage for Subsequent Use

Regular Military

None

5% or more (up to 10%)

10% or more

2.15%

1.50%

1.25%

3.3% *

1.50%

1.25%

Reserves/

National Guard

None

5% or more (up to 10%)

10% or more

2.4%

1.75%

1.5%

3.3% *

1.75%

1.5%

Cash-Out Refinancing Loans

Type of Veteran

Percentage for First Time Use

Percentage for Subsequent Use

Regular Military

2.15%

3.3%  *

Reserves/National Guard

2.4%

3.3%  *

*The higher subsequent use fee does not apply to these types of loans if the veteran’s only prior use of entitlement was for a manufactured home loan.

Type of Loan

Percentage for Either Type of Veteran  Whether First Time or Subsequent Use

Interest Rate Reduction Refinancing Loans

.50%

Manufactured Home Loans

1.00%

Loan Assumptions

.50%