It is absolutely insane how low VA interest rates have gotten. I have been doing VA streamline loans for the past 15 years and though YES it is tougher to do a VA streamline loan today than it was yesterday, VA interest rates are so low that I, an industry veteran would have bet the farm that they would never have gotten this low! (It’s a really good thing I don’t have a farm!) For years, in order to take advantage of the absolute LOWEST Rates possible, you would have to pay points and closing costs. In essence, this is not a bad thing, and we have posts that explain why paying closing costs actually makes sense. However, due to some recent changes in the law and what VA lenders actually want, many VA loan officers cannot charge some of the fees that they used to be able to charge.
If you have not refinanced before due to closing costs I promise you that you should contact a VA loan officer immediately or apply online at LowVARates immediately to take advantage of this unique situation you have. Because VA interest rates can change daily I am always hesitant to quote rates but I would like to give you a range of what VA loan officers that I know are quoting today:
4.25% 30 yr fixed with little to no points
4.5% with no Lender fees at all
4.75 true NO COST loans.
The VA hybrid rates are around 3.25%
Please do yourself a favor and take advantage of the VA streamline loan which today is truly your diamond in the rough. Our economy sucks, it really does, and I know it will get better, but until then all military homeowners with a VA loan should refinance now.
If your current rate is at 4.75% or higher there is no reason to not take advantage of the no cost or no point VA refinance loan. We will talk you through every detail and make sure you understand what is going on through the entire process! Call Low VA Rates today and Lock in your rate! We want to help you through it, you just gotta make the first move, call us at 866 -569-8171!