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Of course to obtain a VA loan you will need to meet the requirements such as a being an eligible veteran or active duty member of the US Military, having a certain credit score, and being able to qualify based on your current income and the amount of your other debts.
You can learn more about this program here: http:
//afrmortgage.com
/va-loans.php
Best of luck!
What else can I help you with?
What is the difference between VA mortgage loan interest rate and conventional rates?
VA rates are about the same as FHA. FHA is about the same as conventional or within .25% of conventional. The key with VA is that you don't have any mortgage insurance premiums as you would with FHA and conventional loans when putting a downpayment of less than 20% when purchasing a home. VA is also a zero downpayment loan.
What mortgage rate will you get with a 650 FICO?
This will depend on the type of product you choose, and the term. With FHA/VA you may get a low rate, but with conventional it will be significantly higher.
What is a conventional Uninsured Mortgage?
Are you sure this is a "mortgage protection" question?
Is there a difference between jumbo mortgage rates and the rates of a conventional mortgage?
A jumbo mortgage is a loan larger than the conventional mortgage limits. The rates of jumbo mortgages is typically 0.25% to 0.5% higher than traditional mortgage rates.
What is one of the advantages of getting a government-sponsored mortgage instead of a conventional mortgage?
Government mortgages charge lower interest rates than conventional mortgages.
What is the difference between VA mortgage loan interest rate and conventional rates?
VA rates are about the same as FHA. FHA is about the same as conventional or within .25% of conventional. The key with VA is that you don't have any mortgage insurance premiums as you would with FHA and conventional loans when putting a downpayment of less than 20% when purchasing a home. VA is also a zero downpayment loan.
Where can a veteran get a VA loan?
VA loans are mortgage options for borrowers who do not have down payments. They are available to veterans and active military personnel. VA loans are a little easier to qualify for than conventional mortgages.
What is the difference between a fixed loan and a conventional loan?
A fixed loan and a conventional loan are related but refer to different aspects of a mortgage. Fixed Loan (Fixed-Rate Mortgage): A fixed loan refers to a mortgage with a fixed interest rate that remains unchanged throughout the loan term. Common terms include 15, 20, or 30 years. Provides predictable monthly payments, making budgeting easier for borrowers. Can be conventional or government-backed (FHA, VA, USDA). Conventional Loan: A conventional loan is a non-government-backed mortgage, meaning it is not insured by FHA, VA, or USDA. Can have a fixed or adjustable interest rate. Typically requires a higher credit score and larger down payment than government-backed loans. Subject to loan limits set by Fannie Mae and Freddie Mac. Key Difference: A fixed loan refers to the interest rate structure (unchanging rate). A conventional loan refers to the type of mortgage (non-government-backed). A conventional loan can be fixed (fixed-rate conventional loan) or adjustable (ARM – Adjustable Rate Mortgage).
What mortgage rate will you get with a 650 FICO?
This will depend on the type of product you choose, and the term. With FHA/VA you may get a low rate, but with conventional it will be significantly higher.
Does the VA guarantee their mortgage loans?
Yes, a VA mortgage loan is guaranteed. A VA loan is a mortgage loan guaranteed by the US Department of Veterans Affairs.
What is a conventional Uninsured Mortgage?
Are you sure this is a "mortgage protection" question?
Is there a difference between jumbo mortgage rates and the rates of a conventional mortgage?
A jumbo mortgage is a loan larger than the conventional mortgage limits. The rates of jumbo mortgages is typically 0.25% to 0.5% higher than traditional mortgage rates.
Where might one find VA mortgage rates?
The VA provides many services to military veterans. The best place to find the most accurate and up-to-date mortgage rates is the VA Mortgage Center. Quicken is also very accurate, and may provide the current mortgage rates.
What is one of the advantages of getting a government-sponsored mortgage instead of a conventional mortgage?
Government mortgages charge lower interest rates than conventional mortgages.
Is one of the advantages of getting a government sponsored mortgage instead of a conventional mortgage?
Government mortgages charge lower interest rates than conventional mortgages.
Do VA loans require Mortgage Insurance Premiums?
VA loans do not require Mortgage Insurance Premiums (MIP), which is a significant advantage over conventional loans. Instead, VA loans charge a one-time funding fee, which can be financed into the loan amount. This funding fee varies based on factors such as the borrower's military service and down payment amount. Overall, this makes VA loans a more cost-effective option for eligible veterans and active-duty service members.
Which is true of an adjustable rate mortgage?
conventional mortgages
