Question by R S: How do I find out what the current VA mortgage interest rates are? Is there a web site i can check?
I’ve just been pre approved for a VA mortgage. I’m only in the looking phase and don’t plan to close til June. How do I find out the average interest rates on VA home loans. I don’t want to find out the last minute my interest rate would be high. I heard you can find them on the VA’s website, medications advice does anyone know the exact link to find it?
Best answer:
Answer by src50
There is no one “rate.” Shop around with different lenders. The VA only insures the loan – they don’t lend.
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The best place to find the rates is to find a local bank,mortgage broker or Realtor to work with.
VA does not loan money they only guarantee the upper 25% portion of the loan to the lender who loaned you the money,which makes the VA loan a better bet for the bank, because they know even if you go into foreclosure, VA will step in. You can’t go wrong with a VA loan, rates are never higher than on any other loan and it is just about the only program left that allows you to buy a house without a down payment.
The VA Loan Guaranty Program does not provide the mortgage itself, the mortgage loans are made by private lenders such as banks, savings and loan associations, or mortgage companies. To get a loan, you must apply through a lender. Because the VA guarantees the loan, mortgage companies will more times than not offer you an excellent rate with a no money down but it still depends on your credit standing.
a 30 year fixed with no points is 5.610. just type v a interest rates
in your search bar and sites will come up