Take advantage of the benefits you have earned
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.
"Karen M. is the absolute best! Because of her, I choose FreeStar Financial!"
~Anonymous (loan survey)
Advantages of a VA mortgage:
- Finance up to 100% of your primary home’s value
- No Private Mortgage Insurance (PMI) required
- Lower payments
- No prepayment penalties
|Effective Date: April 23, 2020|
|Type||Points||APR* As Low As|
|10 Year Fixed||0||2.625%|
|15 Year Fixed||0||2.625%|
|20 Year Fixed||0||3.000%|
|30 Year Fixed||0||3.125%|
|*APR = Annual Percentage Rate. Rate is “as low as” and may change based on credit history, collateral, term, and other determining factors. Rates subject to change at any time without notice. A loan of $150,000 at 3.125% APR for 30 years would have a monthly payment of $642.56. Equal opportunity lender. NMLS #411386*|
If you're paying more than 6.875% on your VA home loan, refinance today with an Interest Rate Reduction Refinancing Loan, IRRRL.
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
- Application fee will be applied to your closing costs
- Close in 2 weeks
- Serviced locally by FreeStar Financial CU
IRRRL is also 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.
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.