VA Mortgage Loan
by Mike from Connecticut USA
Ask Kate: VA Mortgage Loan Hey Kate, I just refinanced my VA mortgage loan down from 6 percent to 5 percent and paid about $5,000 in closing costs. My sister just did the Harp refinance and said she didn't pay any closing costs.
Both of our loans were through the same major nationwide mortgage lender. Did I get screwed?
Kate Answers: VA Mortgage Loan
Hi Mike, I am hoping your lender counseled you on your options and also kept your loan qualifications in mind when suggesting a VA mortgage loan, a home loan specifically for Veterans and those actively serving in the Armed Forces.
While I can't in good confidence say either HARP or VA was your best choice, I would like you to pat yourself on the back for completing a mortgage transaction because at the time this page is being written, closing a refinance is, in itself, to be celebrated.
In the future, it is a good idea to measure up a few loan programs. One method is by comparing mortgage closing costs. Get the inside story here at Reducing Mortgage Closing Costs - Little Known Secrets
Next let's take a look at borrower's best defense - Understanding the 5 major categories of legitimate mortgage fees
on a Good Faith Estimate.
I have provided links to uncommon information about an FHA and VA mortgage loan at the bottom of this page for your convenience. By all means, please let me know if you have more questions.
Take a moment to bookmark VA Mortgage Loan
to your favorites and visit often for more refinancing tips. Mike, you can also invite friends to comment on this page or ask another question of their own like you did.
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