What are VA home mortgage rates? Are these rates set by the VA or can a mortgage co. charge higher rates?
Friday, May 22nd, 2009
mema asked:
My son has apply for a VA home mortgage through lending tree.The mortgage co. is Mortgage Now. The VA website has a interest rate listed at 6.000%, for VA loans, but the interest rate charged by Mortgage Now is 6.875. Can the Mortgage Co. charge a higher interest. The good faith estimate had 6.8, they were told that was just an estimate and that would be the most they would be charged. They are to close soon and the closing settlement charges have the interest rate @6.875. Can they charge a high rate than the VA has on their site.
Monica
My son has apply for a VA home mortgage through lending tree.The mortgage co. is Mortgage Now. The VA website has a interest rate listed at 6.000%, for VA loans, but the interest rate charged by Mortgage Now is 6.875. Can the Mortgage Co. charge a higher interest. The good faith estimate had 6.8, they were told that was just an estimate and that would be the most they would be charged. They are to close soon and the closing settlement charges have the interest rate @6.875. Can they charge a high rate than the VA has on their site.
Monica