VA Mortgage Rates

There are many benefits to obtaining a loan through the U.S. Department of Veterans Affairs. These loans are only for veterans and active military. Mortgages of this type are backed by the government but you will need to work with a lender that specializes in them. We work with lenders that specialize in VA mortgages across the country. The will work with you to make the process as simple as possible.

Veterans and active military have the ability to purchase a new home with 0 down and no monthly mortgage insurance. Many traditional loans require up to 20% down on a new home purchase in order to avoid monthly mortgage insurance. This is one of the greatest benefits of military service. The government has made it very appealing to purchase a home with this type of mortgage. The guidelines on VA mortgages are also not as strict as conventional financing. This makes it much easier to qualify for financing on a new home purchase or a refinance.

VA Mortgage rates are also lower than traditional mortgage rates. In general the rates can be up to 1% lower than rates being offered by banks. With the lower interest rates and the elimination of PMI this is by far the best way for veterans and active military to finance a home. It is also possible to refinance VA mortgages into even lower rates that the initial rate that was obtained when purchasing a property.

You can use a VA mortgage calculator to determine many different aspects of what the new loan will look like. This can help you determine the monthly payment and will also allow you to look at different programs that may be available. You can also determine the purchase price that makes sense for you depending on the monthly payment. A VA mortgage calculator is a great tool for home owners that want to understand their options before purchasing or refinancing a home.

Our lenders look forward to working with you and giving you up to the minute VA mortgage rates and quotes. Some lenders even offer special discounts and offers for veterans and active military. Make sure you ask the lender that we connect you with about special offers and discounts for military.