My wife and I are looking into purchasing another home and I had a question about VA backed home loan. We would be rolling our current equity minus expenses(~$80,000) into our new purchase($290,000), so would be looking at a $210,000 mortgage approximately .
Two questions. Since we have more than %60 for a down payment, is there any reason to use a VA home loan? Additionally, what kind of interest rate could we expect for the stated mortgage?
I understand that VA Home loans require less down payment, but also incur a funding fee. I just don't know if there are any other benefits. A
My wife and I have exceptional credit(780+) and combined income of ~$130,000. Any idea what we could expect for an interest rate? our current mortgage is 3.25%, and while I know we won't get that low, I'm hoping for around 3.7%
Thanks for your help.
Submitted September 25, 2019 at 03:33PM by jcrot https://ift.tt/2ldKV2E
