San Diego veterans can get a VA home loan today with the following terms:
5.0% with 1.5% discount fee
5.5% with .5% discount fee
6.0% with 0 discount fee
If you plan on being in the home for more than two years, it makes sens to pay the discount fee and secure a lower rate. Will VA home loan rates go up or down, in the near-term? I discuss the effect of the Obama mortgage plan, on veteran borrowers, in my Long Beach Mortgage Rates Report:
The Obama
Mortgage Plan isn't going to help new home buyers. In fact, it might just
hurt you a lot. The cornerstone of the plan is to force lenders to compromise
loan balances and original mortgage terms. While that sounds all well and good
in theory, in practice it sends a message to lenders;
The terms of the loans you write are rock-solid...unless they aren't, then the gubmint's gonna intervene.
