Do Veterans Deserve Lower Interest Rates?

Transcript

“Do veterans deserve a lower interest rate? It’s a good question. It’s been asked by many people. Now let’s dive into what goes into the interest rate calculation and where it comes from. So the first thing is, is that that comes from the insurance placed on the loan paid for by the va. So the VA funds this insurance and that is paid for by your service.

So the second thing is that insurance lowers the ineffective interest rate for the veteran. For example, I ran a scenario and it was one and a 5% lower for a veteran buying a house with a six 80 FCO score. Now why don’t you see that in retail lending? Well, you can Google overcharging veterans, et cetera, and it ask the question, brings up a a bad question, which.

Do these banks think that the veterans don’t deserve the lower rates and they think they’re entitled to move up their profit to take the lower rates away from the veterans? I don’t know. That’s not something I can answer, but I can tell you here at Texas Home Loans, we believe that you did earn that lower rate and we will give you that lower rate and you’re gonna be shocked at the lower rate that translates into lower monthly payments.

Savings over the life of the loan. It couldn’t come out to hundreds of thousands of dollars. We can go over the difference. You can call me in a few quick answers. We can look at the difference in interest rate, what you’re quoted and what we would give you. And you see how much you’d save over 30 years.

It’s a lot of money, and you paid for that with your service. So we think it should go back into your pocket, not to the commission of the lender.”