Why a VA Loan?
There is a “right program” for every mortgage borrower, but for many, the VA loan stands apart for its combination of low rates, lenient underwriting, and secondary benefits. Backed by the U.S. Department of Veterans Affairs, VA loans are designed to help active-duty military personnel, veterans and certain other groups become homeowners at an affordable cost. The VA loan asks for no down payment, requires no mortgage insurance, and allows flexible guidelines for qualification among its many other advantages.
Why compare mortgage rates?
The lender that’s best for you will depend on your credit, loan type, location and more. The more lenders you compare when shopping for mortgage rates, the more likely you are to get the lowest interest rate available for you. Getting a lower interest rate could save you hundreds of dollars over a year of mortgage payments — and thousands of dollars over the life of the loan. Yes, it definitely pays to shop around.
1. Source: Freddie Mac