Secure One Capital Pushes to Approve More Veterans as VA Interest Rates Hit 15 Month Lows

COSTA MESA, Calif., Sept. 10, 2014 /PRNewswire/ -- Mortgage rates are continuing to dip down after the Bureau of Labor Statistic's August Non-Farm Payrolls report announced the economy added only 142,000 new jobs in August, the lowest level of the year.  This fell short of the expected 195,000 to 279,000 economists predicted leading to a revised more modest outlook for the US economy. VA interest rates are included in this trend and are nearing 15 month lows. Secure One Capital, a trusted unsupervised VA endorsed mortgagee that specializes in government financing, is pushing to help more veterans qualify for purchases loans and refinances while interest rates remain low.

Secure One Capital is offering VA Streamline Refinances, which are also known as Interest Rate Reduction Refinance Loans (IRRRL). In a VA Streamline Refinance, no appraisal, credit pull or income documentation are necessary. To qualify, the borrower must have a history of on-time payments and stand to gain an acceptable benefit from refinancing such as a lower interest rate or converting from an adjustable rate mortgage to a fixed rate mortgage. With mortgage rates nearing their lowest rates in more than a year, many veterans are eligible for lower interest rates.

Secure One Capital also offers VA mortgages to eligible veterans and other military personnel including active-duty servicepersons, members of the National Guard, Reservists, surviving spouses of veterans, cadets at the U.S. Military, Air Force or Coast Guard Academy, midshipmen at the U.S. Naval Academy and officers at the National Oceanic & Atmospheric Administration. Eligible borrowers can use a VA mortgage to purchase a single family residence, condominium, new-built home, manufactured home or multi-family property.

The VA requires all mortgage lenders to receive approval prior to offering VA loans but not all lenders who are approved specialize in VA loans. Secure One Capital has been a trusted direct mortgage lender since 1995 and has the ability to originate and fund all loans in house in order to expedite financing. In July, Secure One Capital welcomed a new VA underwriter to further decrease funding times.

The VA Home Loan Guaranty launched in 1944 to give veterans, active service members and their spouses the opportunity to own their own home. The program is backed by the Department of Veterans Affairs which guarantees the loans. Under the program, participants are eligible for 100% financing without private mortgage insurance or a down payment. To learn more about VA refinancing visit www.benefits.va.gov/homeloans 

Secure One Capital is currently accepting applications for VA mortgages and VA Streamline refinances.  In order to qualify, borrowers must have a Certificate of Eligibility (COE), which can be obtained from a VA approved lender, such as Secure One Capital. To apply for a VA mortgage or refinance, borrowers should visit www.secureonecapital.com or call (877) 810-8587 to speak with a licensed Account Executive to see if they are eligible.

SOURCE Secure One Capital