Take advantage of the benefits you have earnedyour mi va lender logo

Veterans, your new home is possible with a VA mortgage. FreeStar Financial Credit Union offers flexible terms to fit your lifestyle. Select from 10-, 15-, 20- and 30-year fixed terms. In addition, no Private Mortgage Insurance (PMI) is required.

Advantages of a VA mortgage:

  • No down payment needed
  • No Private Mortgage Insurance (PMI) required
  • Finance up to 100% of your primary home’s value
  • Lower payments

Plus, no closing costs for active duty members with direct deposit. That’s a $300 savings!

With each VA mortgage, FreeStar Financial will donate $200 to a military charity of your choice.

Eligibility Requirements

FreeStar Financial will donate $200 to a military charity of your choice, or select one of our preferred charities: Pets for Vets of Southeast Michigan or Vets Returning Home, with every completed VA home loan. The donation will be made in the member's name. Thank you to the following members for donating to these military charities:

  • Mark M. - John Dingell VA  Medical Center
  • Craig N.- Pets for Vets
  • Michael G.- Paralyzed Veterans of American
  • Roland L. - Disabled American Veterans of Michigan
  • D.J.B. - Wounded Warrior Project
  • Richard L. - Gary Sinise Foundation
  • Rachel M. - Pets for Vets
  • Donald O. - Pets for Vets
  • Cory B. - Pets for Vets
  • Sherman S. - Pets for Vets
  • Robert L. - Disabled Veterans of America
  • Salvatore L. - Vets Returning Home
  • Andra M. - Vets Returning Home
  • Richard T. - Vets Returning Home

If you're paying more than 4% on your VA home loan, refinance today!

Even if your VA loan is not with FreeStar Financial CU,  we can do the refinance. ALSO, if you owe more than your house is worth, we can still help. Features of this streamline loan are:

  • No appraisal required
  • No application fee
  • No out-of-pocket costs
  • Close in 2 weeks
  • Serviced locally by FreeStar Financial CU

IRRRL stands for Interest Rate Reduction Refinancing Loan. You may see it referred to as a "Streamline" or a "VA to VA."
Except when refinancing an existing VA guaranteed adjustable rate mortgage (ARM) to a fixed rate, it must result in a lower interest rate.

Other requirements:

You must NOT receive any cash from the loan proceeds.

The principal and interest payment on an IRRRL must be less than the principal and interest payment on the loan being refinanced unless one of the following exceptions applies:

  • the IRRRL is refinancing an ARM,
  • term of the IRRRL is shorter than the term of the loan being refinanced, or
  • energy efficiency improvements are included in the IRRRL.

VA Mortgage
Effective Date: August 1, 2018
TypePointsAPR* As Low As
10 Year Fixed 0 4.000%
15 Year Fixed 0 4.125%
20 Year Fixed 0 4.250%
30 Year Fixed 0 4.375%
*APR = Annual Percentage Rate. Rate is “as low as” and may change based on credit history, collateral, term, and other determining factors. A loan of $150,000 at 4.375% APR for 30 years would have a monthly payment of $748.93. Promotional rate is subject to change at any time without notice. Equal opportunity lender. NMLS #411386

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