VA loan mortgage rates?
My husband and I are thinking of buying our first home using his VA loan benefit. Our friends used theirs in Jan 2009 and they received 5.5% interest rate, they have really great credit and we dont, my husbands score is 635. When I called around today (i called 6 places mortgage companies and banks) I was told the VA interest rate has gone up, 2 banks quoted me 6%, 3 said 6.5% and another said 6.75%%.. These numbers have nothing to do with credit as I never provided any info for them, only asked what the current VA mortgage rates were… I thought rates were dropping…Im confused now
Does anyone have experience with this sort of thing. I am currently in the military. I have a credit score of 696. I am buying my first home so I am thinking of going VA. Really I am not sure yet if that is best. I want to purchase a house at 146,000. What do you think or advice you may have??
Those seem high, im not sure what the current rate is but we just bought our house using the VA and we also got 5.5% fixed rate
Was this answer helpful?
LikeDislikerates change daily and some times several re post in a days time. The fact that the VA allows 100% loans is why they are higher than say FHA or Fannie Mae rates. Yes the current rate is about 6.5% with the VA
Was this answer helpful?
LikeDislikeMortgage Calculator : How much can you borrow? More than 24.4 million veterans and service personnel are eligible for VA financing. … VA Loan Rates for 5/28/2009; … VA Mortgage News; Browse through articles about VA home loan programs, VA benefits, VA refinance loans, VA mortgage guidelines, and other topics.
Was this answer helpful?
LikeDislikeUnless you have a fixed-rate mortgage, the current mortgage interest rates are very important to deciding how much you should pay every month
Was this answer helpful?
LikeDislikeHello,
Your rate will be around 6% with todays rate.
There is good and bad with va loans, but mostly good. The only bad with va loans is the funding fee which is around 2.5% and can be reduced if you put more money down. If you plan on putting at least 20% down then I would not use my va loan and just go regular because you will not have mortgage insurance on a normal loan with a 20% down payment. The advantages of va loans is 100% financing with no mortgage insurance, and you can borrow more then 100% with good credit like yours.
Need the loan done for you go here:
http://www.amerisave.com/partner/esterling
Thanks
Was this answer helpful?
LikeDislikeHi
I saw your question I have decided to help people out due to the fact that I myself has been scammed twice by fake lenders in my search for a loan but at last I got a reliable lender that gave me the loan($ 60,000 USD) that I was in dire need of. Hence I decided that I will refer anybody I come across to this God sent lender he is reliable and his terms are fair. You can get to him via his email address: [email protected], Please tell him that Deborah Kirk he gave out a loan to me . I have search for a legit lender until I got him and I decided to help my fellow humans with this because there are a lot of fake lenders out there and I do not want any body to fall a prey please get to him and tell him that I referred you to him.”
Thanks.
Was this answer helpful?
LikeDislikeRates change daily. Make sure you work with a lender who understands what makes rates change.
Was this answer helpful?
LikeDislike