News
VA loan news and updates
Short answer
The three VA loan changes that matter most for Chicago buyers and owners in fall 2026 are a pending bill to raise the IRRRL fee, the November 28 deadline for every servicer to offer VA partial claims, and the now-permanent rule letting veterans pay their own buyer's agent.
- Oct. 30, 2026SCRA mortgage interest rate cap: a VA loan servicer settlement and the 6% rule for Chicago service membersA VA loan servicer will pay over $500,000 to settle Justice Department claims it ignored the 6% cap. How the federal and Illinois rules work and how to ask.
- Oct. 18, 2026VA funding fee refund: how Chicago veterans get the fee back after a disability ratingIf your rating is effective before closing, VA refunds the fee. Who qualifies, how to ask, and what it is worth.
- Oct. 18, 2026IHDA help with a VA loan in Chicago: up to $15,000 toward closing costs in 2026All four IHDA programs accept VA loans, and veterans skip Access Home’s first-time buyer rule.
- Oct. 14, 2026Mortgage rates hit 7.40%: what it means for VA loan buyers in Chicago30-year VA loans averaged 7.13% on Oct. 8. Payment examples on a $400,000 Chicago home and what to do in a 7% market.
- Oct. 14, 2026VA appraisal fee in Chicago: $650 for a house, $850 for a two-flat (2026)VA’s fee schedule effective May 1, 2026, the 7-business-day turn time in Cook, DuPage and Lake, and who pays.
- Oct. 14, 2026Cook County property tax appeal deadlines, fall 2026: what veteran homeowners should do nowLake Township closes Oct. 29, Jefferson Nov. 12, North Chicago Nov. 24. Veterans: check your exemption too.
- Oct. 14, 2026Yes, you can use your VA loan more than once: what VA’s reminder means in ChicagoVA’s Sept. 15 reminder with Cook County numbers: keep a $300,000 VA home and still buy up to $532,750 with no down payment.
- Oct. 14, 2026H.R. 6047 would let Guard and Reserve members qualify for a VA loan sooner14 days of active duty instead of 90, current funding fees extended to 2036, and where the bill stands in the Senate.
- Oct. 2, 2026Bill would raise the VA streamline refinance fee to about 1.4%H.R. 6047 would lift the IRRRL funding fee from 0.5% to about 1.4% and the assumption fee to 1%. Purchase fees would not change, and it is not law yet.
- Oct. 2, 2026VA partial claims: every servicer must offer them by Nov. 28, 2026VA’s foreclosure-prevention partial claim launched June 15, 2026. It cures missed payments as a no-payment second lien after three trial payments.
- Oct. 2, 2026Veterans can now pay their own buyer’s agentThe VA Home Loan Program Reform Act made it permanent in 2025. Seller-paid agent fees still do not count toward VA’s 4% concession cap.
What we are watching
- 2027 loan limits: FHFA usually announces next year’s conforming limit in late November. It sets the partial-entitlement math for Cook County.
- H.R. 6047 in the Senate: whether the IRRRL and assumption fee increases pass.
- Partial claim rollout: which servicers are processing partial claims ahead of the Nov. 28 deadline.
- Cook County tax bills: appeal windows and exemption deadlines for veteran homeowners.
What will your VA funding fee be?
Enter a price and down payment to see the 2026 fee, or check whether you are exempt.
An independent guide. Not affiliated with or endorsed by the U.S. Department of Veterans Affairs, and not a lender. General information, not legal, tax or financial advice.