Veterans are starting to get hammered by mortgage lenders all over the country, trying to get the veterans to do a VA streamline refinance.
Because mortgage interest rates are starting to come down to the low 5% range for VA streamline refinances, every veteran with a home loan above 6% is getting inundated with offers from lenders– either online ads, mailers, or phone calls.
But at Indigo Mortgage, we want to caution veterans to be really careful with any of these lenders as they might quote low rates but will charge exorbitant fees to get those rates, or they are offering rates above what the market is really offering.
For example, we spoke to one of our prior clients who is a veteran and we were able to give him a rate that was almost a full percentage point lower than this big national lender and with less fees.
Veterans who’ve bought in the last 18 months when rates were higher should start thinking about a VA streamline loan, since rates are coming down into the low 5% range. VA streamlines do not require an appraisal and nor use income to qualify. As always, we encourage veterans to shop that mortgage around and be sure to include your trusted local VA mortgage company, Indigo Mortgage.