SALEM - For the second time in less than a month, theOregon Department of Veterans' Affairs (ODVA) has reduced its home loan rates.A 30-year fixed rate loan is now 2.99 percent (3.225 APR).
Additionally, the ORVET Home Loan Program's 20-year loanrate is now 2.625 percent (3.62 APR) and 3.25 percent (3.376 APR) for a 30-yearfixed rate loan with no origination fee. ORVET continually offers one of the lowest and more competitive homeloan interest rates available to qualified veteran home buyers.
The ORVET Home Loan Program is a state of Oregon veteranbenefit and is separate from the federal VA home loan guaranty program. Even if a veteran has purchased a home usingthe federal VA program, they may still be eligible for a home loan through theODVA.
"These very low competitive rates coupled withtoday's home market will give our qualified veterans an even greateropportunity to buy a home," said Jim Willis, Director of the OregonDepartment of Veterans' Affairs. "ODVA is a gateway for veteran borrowersto some of the most competitive rates available."
The ORVET Home Loan is a lifetime benefit for eligibleveterans with a maximum loan amount of $417,000 for a single family, owneroccupied residence.
For more information about eligibility and ratedetails, contact ODVA's Home Loan Department at 1-888-673-8387, or visit their website here.
Posted Oct. 23, 2012
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