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What is the current rate for a VA loan? Credit score 700+

by j.estes897 from McCordsville, Indiana. Oct 3rd 2016 Reply

William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,726 contributions

It's not that easy.. Much more info required to answer your question.. First, loan pricing is based on the MID score of all borrowers.. and pricing improves/declines in 20 point increments.. 660/680/700/720/740/760... We would need to know the mid score of ALL borrowers to advise you properly.. Also, what property type are you purchasing? Single family home? Condo? Manufactured home? Duplex/triplex/4plex? the loan pricing is different for all these property types.. What about loan amount? Loan pricing is better for larger loans, but if you go above $417K, then loan pricing can get worse.. The thing you need to understand is that it's impossible to just through out a rate assuming it's going to be the same for everyone.. Each loan stands on it's own.. and without looking at all the details, it's impossible to advise you.. for this reason, I suggest you contact a LOCAL mortgage broker and apply with them. Once they see your complete loan profile, they will be better equipped to advise you properly. Also, by applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with many lenders with each one offering a different type of lending program. This is unlike the local bank which typically only has a few lending programs. The more lenders, the more lending options, and the more likely your scenario will be accepted.. Plus, the broker is experienced in seeking out the best loan terms for your particular scenario, and he has lower overhead which typically results in lower rates and fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 NMLS# 226347

Oct 4th 2016
Jeff Cost (midwestlender)
#39 ranked lender in Ohio - 164 contributions

It would vary depending on market conditions at time of rate lock. We have been seeing rates ranging from 3.25% - 3.75% note rate/non apr.Final apr would depend on if purchase, refi and if first time use of VA certificate or subsequent use.We need a lot more details but this would only take a few minutes but you then will have some solid information to make an informed decision.

Oct 4th 2016
Joe Metzler (JoeMetzler)
#19 ranked lender in Minnesota - 3,981 contributions

There is at least 21-criteria in determining a clients interest rate. Program and credit score are obvious big ones, but so is loan-to-value, property type, and state. The next big one is up to you. Pay discount points, low closing costs, no closing costs? Interest rate and closing costs also go hand in hand. You can get a super low rate, but you'll pay more in closing costs. Do you want that? You can get super low closing costs, but you'll pay a much higher interest rate. Do you want that? I suggest talking to a local mortgage broker in your own back yard to have a discussion about what rates and options might look like for you. For loans in MN, WI, and SD, visit me at

Oct 5th 2016
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