The year was 1944. FDR was President, the Allies had invaded France, and the US Department of Veteran’s Affairs was launching a program that would reward the country’s most sacrificial citizens with assistance in the area of homeownership. 73 years later, not only have the VA’s little-known mortgage benefits not expired, but record-low interest rates have made them more valuable than ever.
Veterans: Cut your home’s interest by 72%
If you took out a 30-year mortgage on your home, you’re not alone. And you could be paying tens of thousands of dollars in unnecessary interest over the course of your loan. But not to worry. The VA’s Refinance program is designed to empower Veteran homeowners with a better mortgage.
The secret? Take back the power of compound interest.
A 15-year mortgage crushes a 30-year mortgage on two overlapping fronts: interest over time, and interest rates. A 15-year mortgage has lower interest rates than a 30-year and cuts the length of the interest’s growth in half. The bottom line: VA Resources Finance found that 72% of an employee’s monthly payment on a 30-year mortgage was pure interest. When a member of the VA Resources Finance team plugged his information into our Mortgage Quiz secure platform, he was shocked by the result. By switching from a 30- to a 15-year fixed rate mortgage, he unlocked $159,447.09 in savings.
QUICK NOTE: Even if you have a conventional mortgage, a reputable lender can help you switch to a mortgage with VA benefits.
Calculate your new payment here ››
Thanks to your service, no additional insurance is needed
A typical homeowner with less than 20% equity would be required to pay for PMI, but there’s one exclusion: veterans. Through the VA’s refinance program, no PMI is required. That factor alone could put hundreds of dollars back in your pocket each month.
Claim your benefit now
There’s only one way to know for sure if you can take advantage of this exclusive offer from the US Department of Veteran’s Affairs. See if you qualify for this exceptional offer by clicking on your state in the map below.