Veteran Home Loans







A veteran mortgage often requires no downpayment and frequently offers lower interest rates than ordinarily available. These loans are often made without any downpayment at all.
 
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VA Loan Calculator

How much can I borrow?
How much can I afford?
How much are my payments?
Show me my amortization schedule.
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How much can I save by consolidating?


Below you'll find a simple loan calculator which allows you to input different interest rates, VA loan amounts, and mortgage length so you can estimate your monthly mortgage payment. Plus, you can also see an amortization schedule of a VA loan which will show you how much of your payment goes towards the principle and how much towards interest. This loan calculator should be used only as an estimation as it doesn't allow for taxes and insurance.
First Payment Year
Mortgage Amount
Interest Rate %
Mortgage Length Years
Payment Frequency
   
Payment Amount
Total Interest

DISCLAIMER: The figures above are based upon conventional program guidelines. Other loan programs are available. Calculations by this tool are believed to be accurate, yet are not guaranteed. Further review is necessary to obtain an exact qualification. If you have less than 20% equity in your home, a monthly mortgage insurance payment may be required.



FREQUENTLY ASKED QUESTION # 21   [ -more VA Loan questions- ]
- - - - - -
Q: The VA Loan for Home Equity Refinancing - Can I refinance with the VA?

A: " If you own a home and are considering refinancing, VA refinancing may be just what you need. Under the terms of VA refinancing, your current real estate debt is paid out of the proceeds of a new VA mortgage. The requirements? The same borrower must use the same property as before. This type of refinancing is also known as a 'Cash Out"" refinance, and is only good for homes that are used as the owner's residence. Refinancing is available for up to 90% of the appraised value plus all closing costs in many cases. Your home must have enough equity to cover the loan. These terms may not be available in all states, depending on local lending laws. Check with your local VA rep to learn more."


VA Loan Rates
for 7/05/2008


30 year fixed
-----------------
0.000 points
6.500%
6.618% APR

15 year fixed
-----------------
0.000 points
6.500%
6.500% APR



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