Rates are up today. The Jobs Report stated that 103,000 jobs were added in the month of September, 43,000 higher than expected. Stocks are down and bonds are up. Today’s comparison mortgage rates with no lender fees are 4.125% on a 30 year, 3.375% on a 15 year and 3.0% on a 5/1 ARM. (click here for details)


This week I covered USDA changes, the recent loan amount reductions for Fannie, Freddie, and FHA loans, and the improvement in PMI. Today, I’m all about the VA loan.

It’s also #FollowFriday! I highly recommend you show Jeffry, John, and Ryan some Twitter love. They’re cool people.

 

I share good news in today’s episode:

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(Watch it on your mobile phone or email reader here)


For a complete list of all the recent changes to VA loans, click here.

The VA loan funding fee has been reduced recently. It is still structured on a tier level that depends on whether it’s your first or second time using the VA loan and what type of certification you have. This is great news for those of you eligible for the VA loan!

I read in a recent article that some of the nation’s biggest banks and mortgage companies actually defrauded veterans out of millions of dollars by disguising illegal fees in the VA loan process. To help prevent this from happening in the future, I have created a list of Rates in Motion approved lenders that specialize in VA home loans.

These lenders have reduced their costs on VA loans and will credit any overages associated with it. If you or someone you know needs a VA home loan, email me and I will set you up with a Rates in Motion approved lender based on the state you are in.

Did you know that if you currently have a VA loan that you can refinance into another one with no appraisal? It’s true! What a great program for our country’s veterans.

If you thought this was good information or worth discussing, help me bring transparency to mortgage lending by sharing today’s episode on Facebook or Twitter.

Let’s change the way people shop for a mortgage…forever!

– Mike

PS. To ask a question, get advice, or find out if you’re getting the best deal possible on your loan, just post a comment below. Daily comparison rates, calculators, and other cool features are available in the free Rates in Motion LoanApp by going to your smart phone and clicking on this link, activation code is 9203780002

(Click here to watch today’s “Record Low Mortgage Rates” episode on YouTube)

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