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VA has easier qualifying guidelines for borrowers. They also have a funding fee that can be good/bad. You wont have to pay a monthly PMI, and you can come with zero down. Rates are great, and have nothing to do with your credit score Conventional - harder guidelines, and you may have to pay a high monthly PMI payment. You maybe required to put 5% down or 10% down in a declining market. Your credit score/down payment will determine your rate. FHA has same guidelines as VA, but only has a 1.5% funding fee. You will be paying a 0.5% monthly mortgage insurance premium for at least 5yrs. Rates are usually better than a VA loan.
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.
Who offers the cheapest mortgage rates in Richmond VA?
The cheapest mortgage rates in Richmond, VA are offered by Aimloan NMLS, First Financial Services, Roundpoint Mortgage and Home Loans Today, which is the most recommended.
What are the key differences between Fannie Mae and Ginnie Mae in terms of their roles in the mortgage industry?
Fannie Mae and Ginnie Mae are both government-sponsored entities that play a role in the mortgage industry, but they have key differences in their functions. Fannie Mae primarily deals with conventional mortgages, while Ginnie Mae focuses on government-backed mortgages like FHA and VA loans. Fannie Mae guarantees and buys mortgages from lenders, while Ginnie Mae guarantees mortgage-backed securities issued by lenders.
Is VA Mortgage Center legitimate?
Yes! www.vamortgagecenter.com check them out. They are also members of the BBB You can also try out http://www.vamortgage.com VA Mortgage, which is a division of First Mariner Bank.
Is the VA Funding Fee considered Mortgage Insurance for tax purposes?
no,
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.
Have you ever been to the International Fiddlers Convention in Galax Va wwwoldfiddlersconventioncom?
I have never been to the International Fiddlers Convention in Galax Va.
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 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.
Who offers the cheapest mortgage rates in Richmond VA?
The cheapest mortgage rates in Richmond, VA are offered by Aimloan NMLS, First Financial Services, Roundpoint Mortgage and Home Loans Today, which is the most recommended.
Can a va mortgage be assumed?
Yes by a qualifying Veteran.
What are the going rates if I want to refinance my va mortgage loan?
The rates to refinance a va mortgage loan varies. It depends on the mortgage company and the individual obtaining the mortgage. The rates for refinancing vary depending on a variety of factors. Your should talk to your mortgage company or a financial consultant to help in this endeavor.
What are the key differences between Fannie Mae and Ginnie Mae in terms of their roles in the mortgage industry?
Fannie Mae and Ginnie Mae are both government-sponsored entities that play a role in the mortgage industry, but they have key differences in their functions. Fannie Mae primarily deals with conventional mortgages, while Ginnie Mae focuses on government-backed mortgages like FHA and VA loans. Fannie Mae guarantees and buys mortgages from lenders, while Ginnie Mae guarantees mortgage-backed securities issued by lenders.
Is VA Mortgage Center legitimate?
Yes! www.vamortgagecenter.com check them out. They are also members of the BBB You can also try out http://www.vamortgage.com VA Mortgage, which is a division of First Mariner Bank.
What is the definition of a VA mortgage loan?
The definition of a VA mortgage loan is a loan that is guaranteed by the Veterans Administration. The purpose of this loan is to assist veterans and their families in obtaining home financing.
I want to do a VA refinance on wife's fha mortgage in my name only but you I not on the deed or the original fha mortgage Lender says this isn't a refi Will it work if I am added to the Deed?
you can refi the mortgage without your wife. you do not have to ad yourself to the deed you can be placed on ded at the day of closing. VA will consider this a VA cashout mortgage, and will only go to 90% of the loan to value. Your name can be added at closing
Is the VA Funding Fee considered Mortgage Insurance for tax purposes?
no,
