VAMC has
VA Mortgage Loan rates for Veterans
A VA Loan is a loan guaranteed by the U.S. Dept. of
Veterans Affairs. Similar to FHA Loans, the VA Dept. does not make VA Loans,
they simply guarantee loans made by lenders. This guarantee, or entitlement,
allows veterans to obtain home loans with favorable loan terms, such as better
interest rates and lower down payments, and is easier to qualify for than
conventional loans. Currently, VA Loans are limited to $203,000.
To
qualify for a VA Loan, you must be a Honorably Discharged Veteran of the U.S.
Armed Forces (contact local VA office for details). When applying for a loan,
the VA Dept. determines your eligibility and, if qualified, issues you a
Certificate of Eligibility to be used with applying for a VA Loan with a
lender of your choosing.
Be sure to read our other mortgage advice articles:
Fixed Rate Loans
Adjustable Rate Loans
FHA Loans
Balloon Loans
Convertible Mortgage Loans
Negative Amortization Loans
Graduated Payment Mortgages
Buy-Down Mortgage
Jumbo Loans
2nd Mortgage Loans
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