The Veterans United Home Loans website is a treasure chest of valuable information for those who qualify for a VA mortgage loan.
When we checked, the mortgage rates at Veterans United Home Loans were lower than the national average. Therefore, VA mortgages typically have very competitive interest rates. VA mortgages don't represent a large amount of risk to the lender because of their government guarantee. Qualified disabled veterans, Purple Heart recipients, and surviving spouses pay no funding fee at all.For an interest rate reduction refinance loan (IRRRL): The funding fee is 0.5%.With a 10% down payment: The fee is 1.4%.With a 5% down payment: Pay a 1.65% funding fee.Instead, you'll pay a modest upfront funding fee, as noted above.īesides not having to pay ongoing mortgage insurance premiums, you can lower your funding fee to bring your costs down even further: VA mortgages don't require borrowers to pay private mortgage insurance (PMI) premiums, even with no down payment. Also, there's a cap on lender fees (at 1% of the loan amount) that can be charged for a VA mortgage. At Veterans United Home Loans, borrowers can even roll the VA funding fee into the loan (2.3% for most new borrowers with no down payment, or 3.6% for those who have obtained a VA loan previously). Unlike with most other mortgage products, VA borrowers aren't required to come up with a down payment. The company's myVeteransUnited online portal allows buyers to check application status, review and submit documents, and more.
Borrowers can request a quote for a VA purchase or refinancing mortgage quickly and easily on the company's website. Veterans United Home Loans has a user-friendly online approval process.
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