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VA Mortgage Calculator
How much can I borrow?
How much can I afford?
How much are my payments?
Show me my amortization schedule.
Compare 3 different loans.
How much can I save by consolidating?
Use our mortgage calculator to see how much you can save on a new VA loan (please do not include any
dollar signs or commas).
FREQUENTLY ASKED QUESTION # 1 [ -more VA Loan questions- ]
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Q: Definition of a VA Loan - What is a VA loan?
A: The VA loan began in 1944 through the original Servicemen's Readjustment Act, also known as the GI Bill of Rights. The GI Bill was signed into law by President Franklin D. Roosevelt and provided veterans with a federally guaranteed home with no down payment. This feature was designed to provide housing and assistance for veterans and their families, and the dream of home ownership became a reality for millions of veterans.
VA guaranteed loans are made by private lenders, such as banks, savings & loans, or mortgage companies to eligible veterans for the purchase of a home, which must be for their own personal occupancy. The guaranty means the lender is protected against loss if you or a later owner fails to repay the loan. The guaranty replaces the protection the lender normally receives by requiring a down payment allowing you to obtain favorable financing terms.
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VA Loan Rates
for 9/07/2008
30 year fixed
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0.000 points
6.500%
6.618% APR
15 year fixed
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0.000 points
6.500%
6.500% APR
Life Insurance for Military Members
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