Interest Rates on VA Home Loans for Veterans Hit a 6 Month Low

Washington, DC, September 22, 2006 --(PR.com)-- This is the 6th consecutive month that interest rates on veteran home loans have dipped.  The current rate available on a VA IRRL or streamline refinance is 5.5% fixed for 30 yrs with all of the preferred lenders within the lowvarates.com network.  "Our network of preferred VA lenders have taken control of the market recently by teaming with investors that are willing to give 5.5% fixed 30 yr rates to eligible veteran home owners," says Eric Austin, owner of www.lowvarates.com.  

Even veteran home buyers using their VA entitlement for the very first time can take advantage of these extremely low rates.  It is important to understand that rates extended to VA HOME BUYERS are not as low as the rates available on a VA IRRL or streamline refinance, however it is possible to refinance to a lower rate shortly after being in your new home!

Recent trends show that the majority of VA home owners that are refinancing their current loans are those veterans that have just purchased their homes in early 2006.  The reason this is happening is because rates were at annual highs earlier in the year.

Veteran home owners can visit www.lowvarates.com for up to the minute details on va loan products.

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