LowVARates.com Announces New VA/FHA Streamline Loan with No Minimum Credit Requirement
Lindon, UT (PRWEB) July 09, 2013 -- LowVARates.com, http://www.lowvarates.com, a division of Flagship Financial Group LLC, is now offering VA and FHA refinances without a minimum credit requirement.
Many veteran home owners are unable to qualify for VA or FHA streamlines because they do not meet the minimum 620 credit rating.
Besides the minimum 620 credit requirement, most banks and lenders also require a 12 month payment history with no late payments. These requirements have disqualified thousands of veterans from streamlining their home loan and saving thousands of dollars.
Branch Manager of LowVARates.com, a division of Flagship Financial Group LLC, Eric Kandell, feels this is a major step to help as many veterans as possible lower their home interest rates and save money.
“This is huge for the many veterans that have been looking to refinance for a very long time, but have been hampered by 30 day late mortgage payments,” Kandell said. “We have had to turn away a lot of military homeowners due to credit and urge those customers to now come back and refinance with us.”
The VA/FHA rates have been historically low for the past year and thousands of home owners have refinanced their higher interest rates to rates in the 2-3% range.
With interest rates at all-time lows, military home owners with marginal credit or 30 day late payments on their mortgage can now take advantage of the low interest rates.
“It’s hard turning away home owners looking to refinance when they have one 30 day late payment or barely miss the credit requirement,” Kandell said. “It’s nice to know that we no longer have to turn those home owners away and they can get the same hard earned VA benefits they deserve.”
LowVARates.com, a division of Flagship Financial Group LLC, can now also streamline manufactured homes for veterans.
According to statemaster.com, approximately 8% of U.S. housing is manufactured/mobile homes. With the addition of manufactured homes, LowVARates.com, a division of Flagship Financial Group LLC, can now offer VA home loan benefits to an even larger portion of the national population.
In the past five to six years, banks and lenders across the board refused to refinance manufactured homes causing many home owners to stay at extremely high interest rates.
Slowly banks and lenders began refinancing and streamlining manufactured homes but ONLY at an interest rate MUCH higher than the standard interest rates. The rates were usually about 1-2% higher than the standard interest rates offered.
With the new changes, LowVARates.com, a division of Flagship Financial Group LLC, can now offer the exact same interest rate on standard homes for manufactured home owners.
“Manufactured homes represent a large portion of the national housing market and it has always been disappointing that we could not properly take care of these homeowners,” Kandell said. “It’s wonderful that we can now offer the exact same streamline interest rates to those owners of manufactured homes.”
VA/FHA home owners that are looking to lower their interest rates can contact any of the professional Loan Officers at LowVARates.com, a division of Flagship Financial Group LLC, and speak with them about their specific circumstances and needs.
To apply for a VA/FHA loan visit: http://www.lowvarates.com/
ABOUT LOWVARATES.COM, A DIVISION OF FLAGSHIP FINANCIAL GROUP LLC
For the past 20 years LowVARates.com, a division of Flagship Financial Group, has been dedicated to serving veteran homeowners. We specialize in providing VA loans to qualified veterans for mortgage purchases and refinances. These loans provide lower interest rates and monthly payments than other traditional or conventional loans.
VA loans are currently the only program left that allows no-money-down loans providing a secure mortgage option guaranteed by the Federal Government. Our professional staff and loan officers will assist you to lock in low interest rates and take advantage of the unique opportunity provided through VA loans.
Craig Walton, LowVARates.com, http://www.lowvarates.com, 801-341-7048, [email protected]
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