Chances are you will be looking for your VA guaranteed loan in the same places people go to get non-VA home loans or conventional loans. It always pays to shop around, which is why we match you with up to
three lenders
at
Military.com. You can choose to get a fixed-rate loan, which you’ll negotiate with the lender, but don't discount the possibility of a VA adjustable-rate mortgage (ARM).
The interest on an ARM may be adjusted one percent annually, and up to five percent over the duration of the loan period. So should you go with a fixed rate or adjustable? It really depends on the buyer: In a rising rate environment a fixed-rate loan can offer some peace of mind but for those who might not be planning on staying in their home more than a few years, and ARM can offer significant savings now. The best advice is to do your homework, find the most competitive rate and don’t take the first offer you get. That is a mistake often made by first-time homebuyers who are excited about getting into a house. The time you spend now will yield results for years to come.
Next Step: Download a
free VA Loan
Guide today, to learn more about this exclusive (veterans and military only) benefit.
Knowing in advance what you are able to afford offers a great deal of security. That kind of security will go a long way as you search for the best value for your money. Having a VA mortgage is an excellent benefit, but finding the right home is just as important. With pre-approval, you avoid wasting time with homes out of your price range or sellers who are unsure whether you are a serious buyer.