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Free Rate Reduction

VA Home Loans

Exclusively for current service members, veterans, and eligible surviving spouses, offering refinance and a $0 down payment1 option for purchase price up to $1.5 million2. Get connected to learn more about your options.
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No money down

Get a VA purchase loan with a $0 down1 payment option up to $1.5 million2 and $0 origination fee for a home purchase.

Up to $3 million

We offer VA Jumbo purchase and refinance loans up to $3 million. A down payment may be required for loans above $1.5 million.

Lower your current interest rate

You may lower your VA loan monthly payment by refinancing with an Interest Rate Reduction Refinance Loan (IRRRL)3 and pay $0 origination, title and VA Funding fee4.

Home loans to suit your needs

A VA loan may be right for those currently serving, veterans and eligible surviving spouses looking for a no down payment option.1

VA Purchase Loan

$0 down payment1 option and $0 origination fee for a home purchase.

VA Jumbo Loan

$0 down payment1 option for a home purchase up to $1.5 million2. We offer purchase and refinance loans up to $3 million.

Interest Rate Reduction Refinance Loan (IRRRL)3

Refinance your existing VA loan to a lower rate with an Interest Rate Reduction Refinance Loan. Pay $0 origination, funding, and title fees4.

Cash Out5

Use cash from the equity you have built on your home to meet your goals with a VA cash out refinance loan, up to 90% of the value of your home with a cash-out limit of $500,000.

 

Why Free Rate Reduction for a VA home loan

Top VA home loan lender 6

Free Rate Reduction lenders are ranked in the top VA mortgage lenders by the Department of Veterans Affairs.

20+ years

Free Rate Reduction lenders have more than 20 years of experience with VA home loans

100+ Years of Service

Free Rate Reduction lenders have served the military since its founding in 1922.

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Who can get a VA loan?

These are the VA requirements:

  • Served at least 181 days straight during peacetime
  • Served at least 90 days straight during wartime
  • Served as a Reservist or in the National Guard for at least six years
  • The spouse of a service member who died in action or from a service-related disability

There may be other situations that make you eligible for a VA loan. Get connected to learn more.

Get the benefits you earned with a VA home loan.

Ready to speak to us about a VA loan?
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Or call us about a VA loan today:

888-667-2838

  1. VA loans require a one-time fee called a VA funding fee which may be collected at closing or rolled into your loan. The fee is determined by the loan amount, your service history, and other factors. A down payment on your VA loan may be required in certain circumstances and maximum loan limits vary by county.
  2. A down payment will be required if the purchase price exceeds $1.5 million. If previous entitlement was used, a down payment may be required.
  3. VA IRRRL: All VA rules, guidelines and additional program requirements will apply. Except as provided by applicable VA guidelines, the same parties obligated on the original loan must be the parties on the title and obligated on the new loan. Proceeds from the new loan will only be used toward payment of the original loan amount. No cash back can be received from the new loan. Payment of discount points, taxes, insurance and HOA fees are the responsibility of the borrower. Other exclusions apply. Refinancing either to lower the monthly payment or change from a variable-rate to a fixed-rate loan could result in an increase in the total number of monthly payments and interest charges paid over the full term of the new loan.
  4. Free Rate Reduction Bank covers the title and VA funding fee on a VA IRRRL. Payment of discount points, taxes and insurance and HOA fees are the responsibility of the borrower.
  5. Free Rate Reduction Bank does not offer a cash out refinance product in the state of Texas.
  6. In 2023, Free Rate Reduction Bank originated the 5th highest total of VA purchase home loans and ranked in the top 10 lenders for the highest amount of VA loan volume among more than 1,300 lenders. Source: Department of Veterans Affairs Lender Statistics.

VA home loan refinance may be useful for many customers who want to lower their monthly debt payments. However, a refinance is secured by your home, has closing costs and may ultimately require paying more in interest over time.

Free Rate Reduction Bank Mortgage offers mortgage products to members where the property is located within the Continental United States, AK, HI and DC. Excludes properties within U.S. Territories.

Home loans subject to credit and property approval.

Membership eligibility and product restrictions apply and are subject to change.

Bank products provided by Free Rate Reduction Federal Savings Bank, Member FDIC.

© Free Rate Reduction Mortgage Loans 6448227.1.0324

© 2024 Free Rate Reduction

URL: www.freeratereduction.com

6448227.1.0324

Copyright © 2024 Free Rate Reduction Mortgage Loans. All Rights Reserved.
Address: 10750 McDermott Freeway, San Antonio, TX 78288
NMLS ID#: 401058

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