A fixed payment VA Loan has equal monthly payments for the life of the loan.
Typical terms include 15-year, 20-year, 25-year, or 30-year fixed. Our lenders will allow you to set up bi-weekly payments and/or automatic payments from your bank. You can make payments over the phone or via the secure bank websites.
Many people are taking advantage of the current low interest rates to refinance into a shorter term loan. This can save tens or even hundreds of thousands of dollars in interest over the life of the loan.
If you would like to refinance from a 30-year loan to a shorter term, most lenders will require either the new monthly payment to be lower, or a reduction in interest rate. Our loan officers can walk you through the process. Give us a call at 1-888-659-0033 to discuss your options.