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Military Home Refinancing Loans
Military families and Veterans are offered discounted mortgage rates for home purchase loans & mortgage refinancing with good & bad credit. Conventional home mortgage lending has tightened, but government home loans for active military personnel and veterans have never been better.
Military Home Financing and VA Mortgage Refinancing
Securing home loans can be hard, but military members and veterans can take advantage of a number of home financing options including 100% loan to value loans - thereby eliminating the need for a down payment - with no appraisal required and no cash needed for closing costs. Loans guaranteed by our government offer competitive interest rates.
Even veterans with bad credit are allowed to take advantage of low mortgage rates because the program is not driven by credit score ratings.
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Home Refinancing Applications are up across the U.S. as military families and veterans look to secure fixed rate loans that save them money! |
Attention Military Residents: The VA mortgage loans allow veterans to finance 100% of home purchase loans. FHA home loans allow consumers to get a low competitive interest rate with a new purchase to 97% and 95% for cash out refinancing. |
Refinance Adjustable Home Loans with Low Fixed Rate Loans that Are Affordable!
Veterans who have made timely payments for one year can get a loan, regardless of their past credit history. The most important monetary consideration of a VA Home Loan is the relationship between the borrower's income and their monthly mortgage payment. This is called the debt-to-income ratio.
Consumers who are not veterans cannot avail themselves of veteran home loans or refinance options such as VA mortgage refinancing. The VA streamlines refinancing and guarantees veterans the lowest rates with reduced closing costs.
A variety of benefits for veterans are available through both the state and federal government as well as from diverse online support groups. Both the state and federal governments provide guarantees on home loans for first-time home buyers.
Recently, legislation was passed increasing the maximum amount of a VA loan to $417,000, which is well above the national average home value of $190,000. Moreover, the process of obtaining a loan is significantly simplified; VA loan approval can come up to two months faster than approval via other methods. Most VA loans can be closed in under three weeks after a purchase contract is complete.
Moreover, VA loans don't require Private Mortgage Insurance. VA loans do require a funding fee but it's included in the loan. Veterans availing themselves of VA loans are also eligible for assistance if they have trouble making payments.
Veterans who have served 90 days of active duty during wartime or 181 continuous days during peacetime can get VA loans as long as they weren't dishonorably discharged. National Guard members and reservists are eligible after they have served for six years. In most cases, surviving spouses of deceased veterans are also eligible for these loans.
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Loan Comparison Calculator
This calculator will help you to compare the total mortgage interest charges of 4 types of loans.
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