All VA loans are backed by the federal government. This makes them less risky commitments for lenders. Less risk means lower interest rates and lower payments for veterans. Eligible San Diego VA loan service members quickly learn that rates compare favorably to those of traditional loans.
If you’d like to learn about your interest rate options call us at 1-855-205-8222. A VA Loan Specialist is always ready to help.
How Your Rate Is Determined
Your interest rate depends on a variety factors. These include but are not limited to:
- Credit score- the higher your score, the lower your interest rate
- Duration of the loan- typically 15 or 30 years
- Debt-to-income ratio- your monthly debt as a percentage of your monthly income
- Current market environment- a less stable market means higher interest rates
Every loan carries with it inherent risk. The interest rate is based on a risk assessment analysis. The more risky the loan, the higher the interest rate. VA loans are insured by the federal government. They are less risky, meaning interest rates are lower. Even if your credit is not perfect. You may still be able to secure a low interest California VA loan.
How Can I Definitively Determine My Interest Rate
Interest rates vary from day to day with market conditions. Before you can lock in a rate, you need to decide on a property and complete the pre approval process. Once an underwriter reviews your loan and the closing date is set, the rate is determined. Prior to this, in the absence of sudden market fluctuations, we can very accurately forecast your rate.
If are looking to purchase a home and want to know your rate, one of our experts is always available to help. With just a little bit of information we can quickly get you the answers you need. Reach us any time at 1-855-205-8222 or fill out our simple contact form.
Never Pay More Interest Than You Have To
At San Diego VA Home Buyers Center we promise to always secure you the lowest possible rate. We have proven to be a trustworthy lender again and again. Our clients can rely on caring experts that understand their situation and always work for their best interests.
Many lenders will present you with unrealistically low interest rates just to get you through the door. We simply don’t work that way. We always determine rates based on your specific situation and current market conditions.
When you work with us, you can rest assured you won’t be paying any hidden costs. We promise total transparency from the beginning to the end of the VA loan process. Speak with one our specialists today and get started with your San Diego VA loan.
If your credit needs improvement before you can secure a low rate we can help with our credit repair services. Learn how we can quickly help you raise your score.