Virginia Mortgage Rates

February 5, 2016 09:56 PM Eastern

Refinance rates now in RICHMOND, VA [Change this]

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Home Price (Purchase)
When you get a mortgage to purchase a home, the lender uses the lower of the agreed-upon purchase price or the property's appraised value to determine your maximum loan amount. The loan amount divided by the property home price equals your loan-to-value ratio, or LTV. That ratio is one of the major factors that lenders use to set your mortgage rate. If your LTV exceeds 80 percent, you'll probably be required to pay mortgage insurance, which increases your monthly payment. If the property appraises for less than the agreed-on purchase price, you are not usually required to complete the purchase.
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Home Value (Refinance)
This is your estimate of the current value of your property. When you refinance, your home is almost always evaluated by a licensed appraiser. The refinance loan amount divided by the property's appraised value equals your loan-to-value ratio (LTV), and that number is one of the major factors that determine your mortgage rate. To get an accurate refinance rate quote, your home value estimate must be reasonably accurate.
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Down Payment
The down payment is the amount you pay upfront when you finance property. Your purchase price minus your down payment equals your mortgage amount. The higher your down payment, the more likely you are to be approved for a home loan. If your down payment is less than 20 percent of the purchase price, you'll probably be required to pay for mortgage insurance, which increases your monthly payment.
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Credit Score
Your credit score is a number designed to measure your credit-worthiness. It's based on a formula that combines many factors, including your payment history, amount of credit used and number of accounts. This number is used by lenders to calculate the probability that you'll default on your mortgage. Most lenders won't approve mortgages to applicants with credit scores lower than 620. Your credit score is one of the most important factors that determines your mortgage rate - applicants with higher scores are offered better mortgage rates.

30 Year Fixed

Interest Rate
3.125%
APR
3.366%
Monthly Payment
$857
Aimloan.com
30 Year Fixed
Be the first to write a review.
NMLS: 2890
Interest Rate
3.125%
APR
3.366%
Monthly Payment
$857
(877) 711-0639 Contact
Aimloan.com
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 30 Days
Down Payment $50,000
Principal and Interest Payments $857
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $857
Lender Fees $6,478
Lender Credit $566
Total Closing Fees* $5,912
*Other 3rd party fees may apply
Aimloan.com
Email Lender

About the Lender

Internet Direct Lender Since 1998* Over $16 Billion Funded *Fannie Mae and Freddie Mac Approved * View Rates & GFE Online 24/4, Apply & Lock Rate Online 24/7.

One of only 7 Certified UpFront Lenders!

15 Year Fixed

Interest Rate
2.500%
APR
2.787%
Monthly Payment
$1,334
Aimloan.com
15 Year Fixed
Be the first to write a review.
NMLS: 2890
Interest Rate
2.500%
APR
2.787%
Monthly Payment
$1,334
(877) 711-0639 Contact
Aimloan.com
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 30 Days
Down Payment $50,000
Principal and Interest Payments $1,334
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $1,334
Lender Fees $4,478
Lender Credit $872
Total Closing Fees* $3,606
*Other 3rd party fees may apply
Aimloan.com
Email Lender

About the Lender

Internet Direct Lender Since 1998* Over $16 Billion Funded *Fannie Mae and Freddie Mac Approved * View Rates & GFE Online 24/4, Apply & Lock Rate Online 24/7.

One of only 7 Certified UpFront Lenders!
eLEND
15 Year Fixed
Interest Rate
2.500%
APR
2.698%
Monthly Payment
$1,334
(855) 982-3216 Contact
eLEND
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 30 Days
Down Payment $50,000
Principal and Interest Payments $1,334
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $1,334
Lender Fees $2,772
Lender Credit $0
Total Closing Fees* $2,772
*Other 3rd party fees may apply
eLEND
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About the Lender

eLEND provides residential mortgage financing directly to potential home buyers and existing homeowners through a robust online platform built to simplify the lending process. Our mortgage technology solutions help thousands of families every year achieve their home financing goals. We offer Conventional, FHA, VA, USDA, Jumbo, and Renovation financing programs with exceptional rates and service. A division of American Financial Resources, Inc., eLEND is backed by over 18 years of industry success. Our expert Mortgage Loan Originators will help connect you with the ideal financing solution to achieve your specific goals. Contact us today for a free rate quote or e-Approval.
eLEND
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Lender Reviews

Wade

After giving them papers directly from the IRS , after having to show divorce papers from 14yrs. Ago, having to get an itemized list of whom was filled on my bankruptcy, let's see what else phone numbers of ex employer from two years ago not the same year, personal reference?????please tell me how showing papers off an old divorce is when relevant? What about a bankruptcy that is 8yrs. Old, is it going to end it's been since December 3, 2015

By: Keri (Gibsonton, FL)

very rude

Stephen Pullen contacted us and he was extremely rude. He kept interrupting me and talking over me. Completely uninterested in what our needs were. We tried back in October to use them and no call backs. Very poor customer service

By: karen (Hinesville, GA)

good

Yes, I recommend this lender

Good

By: Arlen (Mukilteo, WA)
See All Reviews

5/1 ARM

Interest Rate
2.000%
APR
3.147%
Monthly Payment
$739
Aimloan.com
5/1 ARM
Be the first to write a review.
NMLS: 2890
Interest Rate
2.000%
APR
3.147%
Monthly Payment
$739
(877) 711-0639 Contact
Aimloan.com
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 30 Days
Down Payment $50,000
Principal and Interest Payments $739
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $739
Lender Fees $6,478
Lender Credit $990
Total Closing Fees* $5,488
*Other 3rd party fees may apply
Aimloan.com
Email Lender

About the Lender

Internet Direct Lender Since 1998* Over $16 Billion Funded *Fannie Mae and Freddie Mac Approved * View Rates & GFE Online 24/4, Apply & Lock Rate Online 24/7.

One of only 7 Certified UpFront Lenders!
Mortgage rate quotes displayed on LendingTree LoanExplorer℠, including loan pricing data, rates and fees, are provided by third party data providers including, but not limited to, Mortech®, a registered trademark of Zillow®, LoanXEngine, a product of Mortgage Builder Software, Inc., and LoanTek, Inc.

Mortgage Rate Trends

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VA Mortgage Rates for Home Ownership Loans
Virginia was ranked one of the best states to live in by Money Magazine’s "Best Places to Live" survey respondents in 2006 and 2007. It is home to beautiful mountains, rushing rivers, pristine beaches and 34 state parks. It’s no wonder that tourism is one of the state's most profitable industries.

Residents of this beautiful state can take advantage of various programs available to help them become homeowners. The Virginia Housing Development Authority offers loans with 30-year, fixed-rate terms. These conventional fixed loans are offered at below market interest rates, with low monthly payments, and are available for applicants with good credit and who meet the income requirements.

FHA Virginia Mortgage Interest Rates
In addition to the conventional fixed loan programs, the Virginia Housing Development Authority offers programs in conjunction with Federal Housing Administration (FHA) Insured Loans. These types of loans offer the following features:

• less strict approval qualifications
• low down payments
• fixed monthly payments
• competitive VA mortgage rates

The FHA Plus loan is available to assist Virginia home buyers with their down payment and closing costs. This type of loan qualifies as a second mortgage, and also features low, fixed monthly payments.

Veterans Affairs (VA) Loan Programs and Virginia Mortgage Interest Rates
Virginia has long been part of America's military history, dating back to the Revolutionary War. It’s no wonder that special programs are in place to help veterans become homeowners in return for their service to our nation. The Department of Veterans Affairs has loans that:

• are below the market for Virginia mortgage interest rates
• offer fixed monthly payments
• allow up to 100 percent financing

VA loans are made available through participating lenders who agree to work with and are approved by the Department of Veterans Affairs, which acts as a guarantor of your loan once it’s approved by the lender.

VA Mortgage Rates for Rural Housing Services Guarantee Loans
Rural Housing Services (RHS) Guarantee loans have below market VA mortgage interest rates, and are designed to help VA residents acquire, build or improve single family dwellings in state-approved rural areas. Similar to the VA loan, the RHS loan program offers loans that:

• are obtained through participating lenders, and guaranteed by the government
• may offer $0 down payments
• require low, fixed monthly payments