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Federal VA Mortgage Loans
from:If you've served in a war, then there are a lot of ways that the federal government has been helping you. This help comes from the GI Bill that was introduced decades prior. One of the best parts of this GI Bill is the VA mortgage loans. These loans are for veterans of war, and are better than what you would find with regular home loans.
Not everyone qualifies for VA mortgage loans. Even if you fought in a war, that doesn't mean you can take advantage of this great offer. For example, you need to have fought in active duty for a set number of consecutive days. If you don't meet this requirement, then you won't be able to receive this federal loan. You also need to have had an honorable discharge from the army. There are far too many rules and regulations to list here. If you are curious if you qualify for this loan, you should contact federal loan companies and apply for it. This way, you will know if you qualify and how much you actually qualify for.
There are several different ways that VA mortgage loans are different than regular loans. For a standard mortgage loan, you would need to pay a down payment. This usually counts for around 5% of the total loan cost. You need to pay this up front before you can ever own your home. VA mortgage loans don't require a down payment, however. This can save a lot of money. It can also help people who don't have that kind of money saved up. Because of this, a VA loan can help people buy a home when they otherwise would not be able to.
VA mortgage loans also have really great interest rates. They are often significantly smaller than what you would find with classic mortgage loans. This will help lower your monthly loan payments and make owning a home an easier state of affairs.
These loans for veterans are the United States government's way of thanking the soldiers for their hard work. Fighting in a war is not easy. The federal government knows this. That's why they provide extra benefits even after your tour of duty is over and you have left the army. This isn't the only kind of loan that they provide, either. There are also VA construction loans and VA home improvement loans. Whenever you are considering getting a loan for something, you should check to see if there is a federal version that helps out veterans like these do. It will be well worth the effort.
Refinance Mortgage Loans News
Obama's refinancing plan contains elements that don't need approval by Congress - Washington Post
 Bloomberg | Obama's refinancing plan contains elements that don't need approval by Congress Washington Post Though it was pronounced dead-before-arrival by opponents on Capitol Hill, President Obama's new mortgage refinancing package contained far more than legislative proposals. In fact, significant portions of it require no approval from a hyperpartisan ... Program Helps Homeowners Lower Mortgage Payments Mass Refi Plan Would Hit Pensions While Easing Mortgage Payments Questions and answers on mortgage settlement |
New federal program will allow for more people to be borrowers - Lodi News-Sentinel
 MyFox Memphis | New federal program will allow for more people to be borrowers Lodi News-Sentinel On February 7, 2012 the Obama administration announced that the changes to the HARP program are an effort to attract more eligible borrowers to refinance their home mortgage. It's called HARP 2 (Home Affordable Refinance Program). Feds Expand Mortgage Loan Modification Eligibility Under HARP Hope For Homeowners Looking To Refinance Incremental housing help |
Refinancing Plans Still Fail to Help the Neediest - MainStreet
Refinancing Plans Still Fail to Help the Neediest MainStreet But when it comes to low-income American homeowners, those refinancing doors are closed, with little or no relief in sight, even as the White House trumpets its new mortgage refinancing plan. To banks and lenders, the issue isn't about those ... |
30-year mortgage rate stays at record 3.87 percent - San Francisco Chronicle
 Mortgage Rates & Trends | 30-year mortgage rate stays at record 3.87 percent San Francisco Chronicle ... rate on the 30-year fixed mortgage stayed at a record low this week, providing some added incentive for those looking to buy a home or refinance. Mortgage buyer Freddie Mac said Thursday the rate on the 30-year loan was unchanged at 3.87 percent. Today's Mortgage Rates for 2/10/12 Mortgage Refi Activity Ramps Up in U.S. as Rates Continue to Drop |
Deal will mean $648 million for those with troubled mortgages in the state - HeraldNet
 ABC30.com | Deal will mean $648 million for those with troubled mortgages in the state HeraldNet By Jerry Cornfield, Herald Writer OLYMPIA -- A $25 billion agreement reached Thursday between states and the nation's biggest mortgage lenders should help several thousand Washington homeowners refinance, and thousands more who've lost their houses ... Pros and Cons of a Mortgage Refinance Mortgage Deal Means More Foreclosures $25 Billion Agreement Reached With 5 of the Largest Mortgage Servicers to ... |
Lenders say mortgage refinance deal will bolster Manatee market - Bradenton Herald
Lenders say mortgage refinance deal will bolster Manatee market Bradenton Herald By JOSH SALMAN - jsalman@bradenton.com MANATEE -- A new refinance program to help underwater homeowners will uplift the local economy by putting extra cash into the pockets of those who will spend it, area lenders predict. The deal struck with five of ... |
Lenders to send $47.1M to Miss. - Jackson Clarion Ledger
Lenders to send $47.1M to Miss. Jackson Clarion Ledger Mississippi's share of the landmark settlement with the nation's top mortgage lenders should be about $47.1 million, according to Attorney General Jim Hood. The national $25 billion settlement between the lenders and 49 states was announced Thursday. |
More refinancing help may be on the way - MarketWatch
More refinancing help may be on the way MarketWatch President Obama has just proposed a new, broader-based refinancing plan to help people like you who are upside-down on their mortgages through no fault of their own. And the loans don't have to be owned by either Fannie Mae or Freddie Mac. |