Archive for the ‘VA Interest Rate Reduction Refinance Loan’ Category

In August when the passage of the housing bill and the knowledge that the Down Payment Assistance programs, like AmeriDream and Nehemiah, would soon be gone, there was a lot of interest in what was going to be available for people that didn’t have money for a down payment. The best 100% loan to value program, to my mind, is a VA loan for those that qualify. Here is what I wrote then:

There is quite a bit of concern regarding the elimination of the Down Payment Assistance programs and almost all other 100% purchase programs, so I want to spend a bit of time highlighting another 100% loan program. To my mind, this is the best 100% loan program, the VA loan. Read More

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The sale of mortgage backed securities (MBS) determine what is going to happen with real estate mortgage rates. There is a direct correllation between the two. Loan officers that watch the 10 year Treasury Bill for indications of what is going on with the mortgage market, have lost their way.

Here is a post that I did the first of this month and it still has a lot to say about what is happening now. Read More

Christmas is nearly upon us and I know there are people feeling the pinch. VA real estate loans are an exceptional way to purchase a home at 100% loan to value but they can also be a salvation on a refinance because they also allow refinance at 100% loan to value, even manufactured homes on land. As a veteran, and a VA Home Loan participant in Springfield, Oregon, I believe one of the greatest things the country has done for veterans, is the VA Guaranteed Loan Program. Read More

In today’s falling rate environment, it is possible that an IRRRL, VA Interest Rate Reduction Refinancing Loan, would create significant savings for a veteran in their monthly mortgage payment. The only way to find out is to check with a mortgage professional such as me. I would be happy to run the numbers and see if this is something that will save you money on your mortgage. Just because it might lower your payment, is not necessarily the right thing to do. It is always better to see what the cost of the loan will be and how long it will take to recoup those costs. That is where I come in; I will work those costs out for you and give you insight as to what should work for you. Read More