Veteran Benefits Blog

Your Need Help, We Give Answers!

Posts Tagged Refinance

Low Rates on VA Loans

Mar 18

Posted by Admin in Refinancing, VA Loans | Comments off

One of the benefits to being a veteran is the low va rates that are offered on mortgage and debt consolidation loans.  Though a half of percent lower interest rate may not seem like much, it can save you hundreds of dollars a year on your mortgage payment. In the case of a debt consolidation loan, you can save just as much, if not even more money, by combining all of your high interest debt (such as credit cards or auto loans) into one monthly payment with a much lower rate of interest.

These loans are available through your local va lender. If you currently have a va loan, it may be beneficial to contact that institution to see if you are eligible and can benefit from a refinance or consolidation loan. If you are a first-time home buyer, it is also a good idea to find a local va loan provider and compare their rates and fees to that of a conventional loan. You may be pleasantly surprised at what you find! Va loans are more often a better deal both in the long- and short-term. Contact your va lender today to discuss eligibility requirements and restrictions for a home or debt consolidation loan.

Tags: , ,

Mortgage Finance Experts: How will the market affect homeowners who will be refinancing next year?

Nov 3

Posted by Blog Admin in Mortgage, Refinancing | Comments off

No one knows exactly what the future will hold. This is especially true in regards to the housing market. Experts might have a pretty good indication of what the housing market might look like in the future, but a sudden event or a series of events could through even the strongest predictions off course.

In order to predict what the future housing market will entail, it is important to understand the different factors that affect the housing market.

1. Subprime lending and the ALT-A market-Keep in mind that subprime lending is no longer. There isn’t an ALT-A market anymore either.

2. Fannie Mae – Even though we all saw the disaster that occurred with Fannie Mae and Freddie Mac last year, Fannie Mae loans really haven’t been affected by the market trends. So, it is probably safe to say that Fannie Mae loans won’t be affected heavily in the future either.

3. FHA loans – People have been literally flocking to get FHA loans. These Federal Housing Authority loans have become extremely popular and have been a good selling point to first-time home buyers. These loans just might have a huge impact on the future of the American housing market.

4. Jumbo loan rates. Jumbo VA loan rates have not been keeping up with the rest of the market. The rates on jumbo loans have been rising faster than regular loan rates.

Experts predict that there shouldn’t be too many shifts in the housing market in the future. Predictions state that the housing market should level off and remain constant. Therefore, it is safe to assume that VA loan rates should remain about the same. Mortgage terms and conditions should also remain constant. The best news is that the market is on the rebound. Consumers everywhere are beginning to have more faith in the market. From there, everything should be able to correct itself.

Tags: ,