Since VA loans are backed the federal government, lenders are able to charge lower interest rates which can make buying a home much more affordable.
How are VA loan rates determined?
You interest rate will be the result of a combination of factors, including:
Duration of your loan
Current market conditions
A common misconception is that you need good credit in order to qualify for a mortgage loan. However, even if your credit report isn’t perfect, you may have an easier time qualifying for a lower rate because of the VA Guaranty.
Why First Meridian Mortgage Corporation?
Getting the best interest rate for your mortgage is crucial. You need a lender that understands your needs and can help you lock in your interest rate at the right time.
At First Meridian Mortgage Corporation, we work with you to give you an accurate and realistic quote. Call us today at 703-799-5626 to speak with a loan officer and learn more about how we can help you purchase a home with a VA loan in Washington DC, Maryland or Virginia.