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VA Mortgage Offers Military Home Finance Opportunities

admin — Tue, 20 Jul 2010 15:21:48 +0000

Nationwide mortgage lender posted a great article that highlighted the benefits of militray home finance opportunities with the VA mortgage. While in the past military borrowers used to have to jump through hoops to qualify for VA mortgages, today the VA loan process has been streamlined and VA mortgage rates are lower than ever. In the article, Nationwide stresses that VA home purchase loans are the last commercial loan in the United States that enable no down-payment for primary residence financing. According to Nationwide Mortgage Lender, VA home mortgages are one of the rare opportunities for homeowners to qualify for no equity home refinancing. This VA program encourages borrowers with all types of credit to apply for a zero down home loan opportunity.

The Department of Veterans Affairs also encourages first time home buying and VA mortgage interest rates are the most affordable they have been in nearly 40-years. Today VA mortgage rates are available at 4.125% for a 15-year fixed and 4.5% for a 30-year fixed VA loan.

VA Mortgage Lenders Selling Record Low VA Rates

admin — Mon, 19 Jul 2010 19:58:31 +0000

Most VA mortgage companies have posted positive results in VA loan origination in the first and second quarters of 2010 because VA mortgage rates have declined to record lows. On Saturday Reuters reported that the thirty-year home loan rates remained at 4.57% for the week ended July 15, matching the prior’s week’s all-time low. This report released by Freddie Mac covers the interest rate for conventional, FHA and VA interst rates. A year ago, the VA interest rate averaged 5.14%.

2010 is a Great Year for VA Mortgage Lending

On average, VA mortgage lenders added 0.7 of a percentage point in points and fees last week. The low VA rates have stimulated a pick-up in refinancing, mainly from borrowers who haven’t already refinanced when rates were similarly low over the past year and those who still have equity in their homes.

Financing for home buying have been hindered, by unemployment and fears of job loss. “Over the past month, about four out of five conventional loan applications and more than one-half of FHA and VA loan applications were for mortgage refinancing,” Frank Nothaft, Freddie Mac’s chief economist, said in a statement.

Reuters indicated that homeowners would save approximately $1,500 in payments each year on a $200,000 loan at current VA mortgage rates compared with rates last June, he said.

VA Lender Offers No Money Down Loan

admin — Mon, 24 May 2010 23:34:57 +0000

The VA Home Mortgage Loan Company has assembled an experienced group of VA loan officers that are ready to help active military and veterans find the best VA home loan solution. The VA mortgage program is still guaranteed by the government with no money down mortgage options for qualified veterans. The 100% loan program is available for home buying and refinancing with the VA streamline. The VA lender belives the no money down loan program can help soldiers become homeowners with affordble low VA mortgage rates. The VA lender recommends locking a mortgage while VA mortgage rates remain at record lows. The VA Home loan Company looks forward to the opportunity of serving your home financing needs.

VA Mortgage Rate Update

admin — Thu, 31 Dec 2009 02:06:03 +0000

The volume of VA loan requests last week dropped 18% from the prior week. Results from last week’s VA loan applications: 38% were for VA home refinance loans, 55% were for VA home loans. There were no home equity loan applications because VA is not offering any 2nd mortgage programs at this time.

Zillow reported the VA mortgage rates for 30-year fixed home purchase loans at 5.06%. The 30-year fixed rate home mortgages reported variations by state. Georgia mortgage rates, Virginia mortgage rates, and North Carolina mortgage rates increased the most, from 4.81% to 5.01% in Georgia, from 4.84% to 5.03% in North Carolina, from 4.82% to 5.01% in Virginia. New York mortgage rates (5.12%) were the highest in the country, while VA California mortgage rates (4.88%) were the lowest. For VA, California rates were the most requested among all states.

VA Loan Eligibility

admin — Thu, 31 Dec 2009 01:46:04 +0000

The Dept. of Veteran Affairs provides superior home financing for military vets with their VA home loan program. VA loans offer unique lending options looking to purchase a new home or refinance their present home loan. VA loan guidelines offer flexibility because borrowers do not need any money for down-payments for home buying. VA guarantees the loan to lenders and credit is extrended easier than with conforming loans. Military Vets can get financing with 100% home loans. VA mortgage rates continue to be posted at record lows. 40 year fixed VA mortgages have been available for most of 2009 below 5%.

Military Service Requirements for VA Loan Eligibility:

Note: VA loan applications involving other than honorable discharges will usually require further development by VA. This is necessary to determine if the service was under other than dishonorable conditions.

Wartime – Service During:

WWII: 9/16/1940 to 7/25/1947
Korean: 6/27/1950 to 1/31/1955
Vietnam: 8/5/1964 to 5/7/1975

For VA loan approval, you must have at least 90 days on active duty and been discharged under other than dishonorable conditions. If you served less than 90 days, you may be eligible if discharged for a service connected disability.

Peacetime – Service during periods:

7/26/1947 to 6/26/1950
2/1/1955 to 8/4/1964
5/8/1975 to 9/7/1980 (Enlisted)
5/8/1975 to 10/16/1981 (Officer)

For a VA mortgage, you must have served at least 181 days of continuous active duty and been discharged under other than dishonorable conditions. If you served less than 181 days, you may be eligible if discharged for a service connected disability.

California Mortgage Rates Drop for VA Loans

admin — Fri, 11 Dec 2009 01:22:01 +0000

California mortgage rates dropped to 4.75% on fixed 30-year VA home loans. Guidelines for California VA loan programs were updated by the Department of Veteran Affairs. Don’t forget to calculate VA’s maximum guaranty mortgage amount for a particular county when checking the VA loan limits.

VA Loan Limit by County for California
CA ALAMEDA $1,094,625.00 PHOENIX
CA ALPINE $ 503,750.00 PHOENIX
CA CONTRA COSTA $1,094,625.00 PHOENIX
CA EL DORADO $ 516,250.00 PHOENIX
CA LOS ANGELES $ 737,500.00 PHOENIX
CA MARIN $1,094,625.00 PHOENIX
CA MONO $ 575,000.00 PHOENIX
CA MONTEREY $ 525,000.00 PHOENIX
CA NAPA $ 643,750.00 PHOENIX
CA NEVADA $ 518,750.00 PHOENIX
CA ORANGE $ 737,500.00 PHOENIX
CA PLACER $ 516,250.00 PHOENIX
CA SACRAMENTO $ 516,250.00 PHOENIX
CA SAN BENITO $ 937,500.00 PHOENIX
CA SAN DIEGO $ 593,750.00 PHOENIX
CA SAN FRANCISCO $1,094,625.00 PHOENIX
CA SAN LUIS OBISPO $ 610,000.00 PHOENIX
CA SAN MATEO $1,094,625.00 PHOENIX
CA SANTA BARBARA $ 656,250.00 PHOENIX
CA SANTA CLARA $ 937,500.00 PHOENIX
CA SANTA CRUZ $ 805,000.00 PHOENIX
CA SOLANO $ 435,000.00 PHOENIX
CA SONOMA $ 566,250.00 PHOENIX
CA VENTURA $ 650,000.00 PHOENIX
CA YOLO $ 516,250.00 PHOENIX

VA Loans the Best Mortgage Product on the Planet

admin — Tue, 22 Sep 2009 23:01:04 +0000

Most mortgage insiders would agree VA mortgage loans are pound for pound the best home loan products on the planet. VA mortgage rates are so affordable that home-buying has become more appealing to military veterans across this great nation. You must be a military veteran or be a meet the criteria as direct family to qualify for the legendary VA home loan.

 Veterans Administration Guarantees VA Loans
 VA Home-Buying with Zero Down
 No Mortgage Insurance for Veterans
 Bad Credit Loans Available for Disabled Vets
 100% Home Financing for VA Loans
 VA Mortgage Rates at All-Time Lows
 VA Streamline Offers Quick Low Cost Refinance
 No Penalty for Early Pay-Off

VA Mortgage Rates Site Goes Live for Vets

admin — Mon, 14 Sep 2009 15:05:54 +0000

VA Mortgage Rates Company announced their new VA loan site was going live. This website was created to military vets can get the current VA mortgage rates online. VA loan are only available to qualified military veterans. The Veterans Administration guarantees VA loan for home buying and refinancing of primary residence homes.

You must be in the military or have been in the military before in order to qualify for this loan. If you are currently in the military, you are eligible for this loan after 180 days of service. VA mortgage loans enable the military to qualify for a no money down home loan and the VA rates are at all-time low’s.