Having a VA loan provides protection to the Veteran because its backed by the federal government. Since the federal government roll is to make sure the US economy thrives and grows. Veterans are some of the first homeowners that see the benefit of the stimulus provided.

The stimulus provided gives VA loans a greater advantage then a standard conventional loan. Giving veterans the ability to have lower rates then what may be provided for home loans on conventional.

If you would like to speak with a VA home loan specialist they can be reached at (801) 871-3739.

Here is some basic information to be aware of when picking a rate.

Term of the loan you desire (30,25,20,15 year)

Rate will be based on Current Market

Debt to income ratios

Credit Scores (will use middle of the three scores)

 Mortgage lenders and homeowners share responsibility when carrying a mortgage. The VA only guarantee the loan of default. The VA do not loan out funds for the property, this is where the lender comes in and provides the money.

If you have great credit scores you are more likely to be provided with the best rate available. Usually 620 or higher credit scores will provide the VA home owner with the best rate. Some lenders do offer additional incentives for higher credit scores.

Loan officers have the responsibility of locking in the veterans rate. Common lock periods are anywhere from 30 days for refinances and 60 days for purchases.

If you are wanting to lock in a rate we can be reached at (801) 871-3739 and have this taken care of for you. Remember locking in a rate provides you security and avoids future volatility the market brings.

VA Help Center works to provide the lowest rates available and if there is a decrease in the rate even after your loan was locked in. We have created options for home owners to cancel the existing lock to take advantage of additional savings.

Call us today and start the process and get your desired rate locked in!