About VA Loan Rates
Interest rate on a home mortgage is one of the key factors that establishes the payment amount. The rate on your VA Loan will be determined by market conditions and factors specific to your situation and your long- and short-term goals.
When evaluating VA Loan Rates, it's important to take account of the entire financial picture, and to be aware of what you're paying to get the rate you receive on your loan. Our Department Representatives will go through your VA Home Loan costs with you line by line.
Reducing Your Rate
Borrowers sometimes wonder whether prevailing interest rates make the current time opportune for buying or refinancing.
With a VA Loan, there is added flexibility. In order to help their borrowers keep their rates competitively low, the Federal Government has put into place a Rate Reduction Program, also called the Streamline Program, for borrowers with VA Home Loans and other government-backed mortgages.
One of the benefits of the Streamline Program is that it allows Veterans and Active Duty Military personnel who currently have a VA Loan to refinance to a lower interest rate without having to re-qualify or obtain an appraisal.
It makes it very simple and easy for VA borrowers to reduce their mortgage payment when rates fall.
Read more about the VA Streamline Refinance Program.
VA Mortgage FAQ's
How much of my home's equity can I use to consolidate debt with a VA loan?
Since the Veterans Benefits Improvement Act of 2008 was passed, up to 100 percent of your home's equity can be used for a VA cash-out refinance. Before, the loan to value limit was 90 percent. In contrast, FHA and other programs have reduced the percentage of home value ... View FAQ
What are the recent changes to VA limits and are they permanent?
Some people find it hard to keep up on VA mortgage limits because from time to time, the VA makes adjustments to the Program in response to circumstances dictated by the economy and other factors. In October 2008, the President signed the Veterans' Benefits Improvement Act of 2008. The ... View FAQ
Other Veteran Loan Questions | Ask a Question
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