Find the Most Suitable VA Home Mortgage Refinance Interest Rate [mortgagerates-tips.blogspot.com]
Many VA loan borrowers wonder if their interest rate is tied to their credit score. The www.directvaloans.com VA loan FAQ video series addresses the commonly asked question, How does my credit score affect my VA loan interest rate? With many conventional loans the rate you receive is directly tied to your credit score. The VA home loan program doesnt on a tiered rate structure based on credit score. From the VAs perspective, anybody qualified for a VA mortgage is eligible for the best rate. VA lenders and investors they are the ones actually lending the moneyâ€"may build in their own pricing differences to offset risk. Generally though, your rate wont be affected by your credit score on a VA mortgage. For the complete video series and to find more answers to your most commonly asked VA loan questions visit http
mortgagerates-tips.blogspot.com How does my credit score affect my VA loan interest rate?
VA home loans benefit is regulated by the Department of Veterans Affairs for the veterans of US military, both on retired and active list. It provides 100% financing for the veterans with Zero down payment option, with looser qualification guidelines for VA home loan interest rate. VA home loans provide home loan at attractive and flexible interest rates. The mortgage hub has experts who are qualified, specifically to capitalize on the VA Home Loan Interest Rate available for veterans.
VA Mortgage Loan: VA loans puts across certain minimum property options, which an applicant must fulfill for being eligible for VA Mortgage Loans Rates. Generally it dictates that the home should accomplish basic residential amenities such as living, sleeping, cooking and dining, and sanitary facilities etc. Also the home must possess the mechanical system prerequisites, in addition to some basic stipulations for home like heating, water supply and sanitation, ventilation, roof covering, crawl space, and electricity.
Fulfilling these requirements will institute the safety and provide the home with desired VA standards and will solidify the VA home loan chances. The very purpose of putting across these VA property qualitative requirements is to maintain the building code, federal directives and maintain the HUD demands. If all these necessities are met then VA mortgage loans rates shall rightly fit into the frame of VA loans.VA Re-finance rates: VA loan provides loans at interest rates which are same for both VA home loans and VA streamline Re-finance. The interest rates are as under:
1.
For 30 yrs fixed period interest rate of 4.750%.2. For 15 yrs fixed period interest rate of 4.000%.
The re-finance interest rate option offered by the VA loan is applicable for those individuals, who already own a property after becoming certified for a VA loan and thus have a chance to refinance their current loan in order to lower their present interest rates they are paying. For becoming eligible for VA Refinance Rates one must have spent a term of 6 months under VA loans and the interest rate should have been higher at the time of purchase of home.
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