The VA Streamline program, is a great way for veterans to leverage the current interest rate environment and lower their monthly payments. The window of opportunity for low rates is narrowing, and now is the time to take advantage and save
Union City, New Jersey (PRWEB) March 31, 2013
The 30 year fixed mortgage reached 3.63%, its highest level in 6 months according to Freddie Mac. VA Loan Captain projects that rates will increase further this year; this means that the window to lock in a low rate for a VA Home Loan or VA IRRL (interest rate reduction refinance loan) may not be open for too much longer.
The VA IRRRL, also known as the VA Streamline program, is a way for veterans to refinance their existing loans and reduce their interest rate. It can be used to refinance into a VA Loan at a lower rate, or to switch from an adjustable rate mortgage loan into a fixed rate loan at a lower rate. It is a streamlined process which involves fewer requirements and lesser closing costs.
"The VA Streamline program, is a great way for veterans to leverage the current interest rate environment and lower their monthly payments. The window of opportunity for low rates is narrowing, and now is the time to take advantage and save," says Grant Moon of VA Loan Captain.
The number of Veteran home loans has increased more than 50% in 2012 as compared to the year prior. The VA Loan program allows US war veterans to benefit from special rates as well as zero percent down payment on houses in many counties. Considering the above mortgage rate facts, and the already favorable terms of a VA Loan, now is an ideal time for veterans to buy a home or refinance their existing loan.
About VA Loan Captain
VA Loan Captain, Inc. assists veterans and service members obtain competitive interest rates and fees on their VA loans through a platform of approved lenders. The company is a service disabled veteran owned small business registered in New Jersey and verified by the US Department of Veterans Affairs. VA Loan Captain, Inc. is listed and searchable within the Department of Veterans Affairs Vendor Information Pages.