Florida Mortgage : Learning Center

My thoughts on buying down a fixed interest rate have changed with respect to the current VA Home Loan.  Typically a 1% discount point or fee will buy-down a fixed rate by.025%.  Then when calculating recovery periods you find t takes about 60 to 72 months to recoup the cost.  VA mortgage loans currently have lower recovery periods.

To buy down your fixed VA mortgage loan interest rate; you can now pay 1% (that is, 1% of the loan amount) and reduce your interest rate by 0.50%!  The recovery periods run from 30 to 36 months.  If you are purchasing your new Florida home by using your VA Entitlement you need to consider a fixed rate VA mortgage amortized over 30, 25, 20 or 15 years and compare buying the rate down – in today’s market.

For an immediate VA Florida mortgage Good Faith Estimate please contact our office at 888.399.0520 or email info@beechtreemortgage.com.

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