Adjustable VA Loan Rates Are Like Nothing Else You've Seen | The ...

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By Scott C. Antle

The special adjustable VA loan rates that are the most integral feature of the special system used to help Veterans buy homes are much different than what many people would think. If you bothered to ask the rest of the homebuyers across the country how they feel about adjustable rates, they probably wouldn?t have anything good to say. However, the kind of adjustable rates that are available to members of the VA are completely different than what a lot of those people are used to.

Thanks to the VA and the regulations they?ve set up, vets won?t see more than a one percent increase in their mortgage rate at a time. And to make things much better than that, the one percent that it can adjust can only be added or subtracted once a year, so after a one percent adjustment, they don?t have to worry about anymore adjustments for an entire year.

A civilian would likely be amazed to learn of this type of system, because they are still faced with the chance that there rate will adjust so much in a single year that they can no longer afford their home. The Department of Veteran Affairs makes sure that the veteran and active members of the armed forces will never have to be worried about being foreclosed on because of an unexpected rate adjustment.

Some people still tend to get pretty nervous about their mortgage rates increasing to something like fifteen percent in fifteen years, but you can rest assured that this doesn?t actually happen. There is a set number of years in which your rate can be adjusted from the start of the loan to the time it is finally paid off, so even if your rate increases every single year that you have your loan, there is no way that it can go any higher than the percentage cap put in place.

An adjustable rate comes with numerous benefits for everyone involved, such as providing the lender with the ability to negotiate a more favorable term for clients like you, and the VA makes sure that you get your share of benefits as well. It should go without saying that these special VA loan rates are unlike anything else on the market, so any veteran who is seriously considering owning their own home in the near future should definitely see what the VA has to offer them.

Choosing the right type of home loan to finance any purchase can be more overwhelming. Get started saving money with VA streamline and learn more how to save time, money and frustration. Please visit vamortgageleader.com.

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