Buy The Home Of Your Dreams With Adjustable Va Loan Rates

There are many terrific offers available from the Department of Veteran's Affairs

, and among those are the unique adjustable VA loan rates available to vets and active military personnel. The majority of the people that would like to have a home financed would probably not like to hear the word 'adjustable' when discussing a home loan. However, the sort 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 guidelines they've put in place, vets won't see more than a one percent increase in their mortgage rate at a time. What's more is that they will only see that one percent change once per year, if that, because the program says that no more than one adjustment is allowed to be made per year, limiting them to a one percent increase or decrease per year.

A civilian would likely be amazed to learn of this type of system, because they are still dealing with the chance that there rate will adjust so much in a single year that they can no longer afford their home. The rates that come with a VA loan are really nothing to worry about at all, because the VA loan system is regulated to make sure that an adjustable rate will never put a vet or military member out of their home.

You might think that if your rate increases each year for ten years that your rate will end up being ten percent higher, but you can guarantee that this sort of thing does not happen to any member of the VA. Beyond the fact that the rate can only be adjusted by one percent only one time a year, there are only so many years that it can be adjusted, so if your rate can only be adjusted five years, the most your rate can ever increase is by a total of five percent.

A normal lender would tell you that the adjustable rate is important for giving them the room to negotiate a more favorable loan product for you, which is actually true, but with the VA's support, you don't have to worry about being exploited down the line. It should go without mention 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.

by: Scott C. Antle

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