VA jumbo loans are the perfect mortgage option for military personnel or veterans that need a VA loan over their county limit. When searching for the best loan, you’ll need to check the best VA jumbo loan rates. To ensure you find the cheapest deals, follow these tips:
Pay attention to the news
Current affairs are often the biggest factor that determines VA jumbo loan rates. After the election, we saw a dramatic increase in VA jumbo loan rates, but they’ve dropped to a more steady price across the board. Make sure you’re always in tune with the news – particularly real estate news, as this can help you see when the rates may increase or decrease.
Always look for small print
So many lenders offer VA jumbo loan rates that seem too good to be true. Sadly, that’s because they are. Look for small print on their websites in the terms & conditions as they often include clauses that let them adjust the rates and make them more expensive than advertised.
Compare as many lenders as possible
Lastly, make sure you compare as many lenders as you can to get the best VA jumbo loan rates. This lets you see the average VA jumbo loan rates, which then tells you who is offering the lowest.
If you need a large mortgage to buy your home, then you’ll probably need a jumbo loan. Seeing as you’re reading this, then you must be a veteran that qualifies for VA jumbo loan rates. Use the three tips detailed above to ensure you don’t get ripped off when searching for the perfect loan.