Posted on: 31st Oct, 2013 02:22 am
Is it true that VA loans have lower rate compared to that of conventional loans?
Hi Guest,
Yes, many a times, the interest rates for VA loans are lower than that of conventional loans.
Take care
Yes, many a times, the interest rates for VA loans are lower than that of conventional loans.
Take care
Welcome Guest,
VA loans are mainly available to the veterans. So, they may have a lower interest rate compared to that of other loan options.
VA loans are mainly available to the veterans. So, they may have a lower interest rate compared to that of other loan options.
Yes, many times this is the case. You pay a funding fee (the fee varies depending on whether you have had a VA loan in the past, if you are disabled (in which case its waived) and, if you are refinancing, you get a reduced fee (and other reduced costs) if you are currently in a VA loan. A major benefit though is that you never have to pay monthly mortgage insurance no matter what your loan to value ratio is. Also, you might be able to finance up to 100% (at least you can with me :>).