- Brian Lardner
- #1833652 #324324
- (805) 434-5226
- brian@crownmortgageofthewest.com
VA loans is an option that is more affordable for qualified veterans, service members, as well as their spouses.
VA mortgages are guaranteed or backed by the Department of Veterans Affairs.
The program has a range of loan types, including adjustable or fixed rates, and terms between 15 and 30 years.
30-year Fixed-Rate VA Loan:
The following is calculated based on an interest rate of 3.75%, with 4.197% APR (annual percentage rate) and the cost of 1.875 Points, for a total of $3,836.27 paid at closing. On a mortgage of $204,601, you would have to pay monthly payments of exactly $947.54.
The monthly payment in this example doesn’t include insurance premiums and taxes, meaning the total payment amount would be higher. This payment amount also assumes that the LTV, or loan-to-value, is at 76.63%.
You’re not required to have PMI for VA loans. VA loans are only offered to you if you’re a veteran, a surviving spouse or on active duty in the military.
25-year Fixed-Rate VA Loan:
The following is calculated based on an interest rate of 3.75%, with 4.267% APR (annual percentage rate) and the cost of 1.875 Points, for a total of $3,836.27 paid at closing. On a mortgage of $204,601, you would have to pay monthly payments of exactly $1,051.92.
The monthly payment in this example doesn’t include insurance premiums and taxes, meaning the total payment amount would be higher. This payment amount also assumes that the LTV, or loan-to-value, is at 76.63%.
You’re not required to have PMI for VA loans. VA loans are only offered to you if you’re a veteran, a surviving spouse or on active duty in the military.
15-year Fixed-Rate VA Loan:
The following is calculated based on an interest rate of 3.375%, with a 4.204% APR (annual percentage rate) and the cost of 2.125 Points, for a total of $3,836.27 paid at closing. On a mortgage of $204,601, you would have to pay monthly payments of exactly $1,450.13.
The monthly payment in this example doesn’t include insurance premiums and taxes, meaning the total payment amount would be higher. This payment amount also assumes that the LTV, or loan-to-value, is at 76.63%.
You’re not required to have PMI for VA loans. VA loans are only offered to you if you’re a veteran, a surviving spouse or on active duty in the military.
You can also refinance with a VA loan:
Call us now to get personalized recommendations about VA Loans, or to discuss different options.
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Arizona and California Licenses
#1833652 #324324
Arizona and California Licenses
#1833652 #324324