For those that qualify, VA may be the best way to go. On ANY loan, to get the lowest rate, there are usually fees.
You can take a higher rate and think that you aren’t paying any fees, BUT YOU ARE. If you keep the loan for more than 3-5 years, that no cost loan will end up costing you a lot more.
Any DECENT mortgage broker will tell you up front here is your cost to use me, and any commission from the lender will offset that charge, NOT go into their pocket.
It’s not a complicated discussion, even if your loan is complicated.
Today’s 30YR fixed conventional pricing for loans below $417K for a perfect borrower is 4.875% with no added points, no origination fee, no transaction fee or any other garbage loan fees. At that rate the lender will pay the loan costs.
10% down is OK on a purchase, same rate with mortg insurance added, IF one qualifies.
I don’t know how this compares to VA rates today.
ALL rates move a bit every day. .HLS
