Veterans Home Purchase Board
 LOW Interest Rate Home Loans for Mississippi Veterans

The Veterans' Home Purchase Board offers the following loan programs to meet your needs.

1- Purchase Loans

2- Construction to Permanent Loans

3- IRRRL's (Interest Rate Reduction Refinance Loans)

 
Loan Term Overview
16 - 30 Year Fixed
1 - 15 Year Fixed
IRRRL

Rates last updated on Wednesday, July 25, 2018

Loan Term Overview

 

  • The maximum loan limit is $300,000 plus the VA funding fee.
  • The interest rate is fixed for the term of the loan.
  • Interest rates are typically 1 to 2 percent below market rates.
  • Available terms are 10, 15, 20, 25, and 30 year monthly amortizations.
  • Veterans’ Home Purchase Board can only refinance loans presently financed by the agency.
  • Hazard insurance and taxes are collected monthly along with payments and placed in an escrow account.
  • VA loans do NOT require a Down Payment

Current 20, 25, & 30 year rates are 3.25%
Current 10, 12, & 15 year rates are 3.00%

 

 


16 - 30 Year Fixed

 16 - 30 Year RATES are the Same

Term: 30 years   Maximum Amount: $300,000
RatesAPRPoints
3.25%3.411%0%
 

 


1 - 15 Year Fixed

 1 - 15 year RATES are the Same

Term: 15 years   Maximum Amount: $300,000
RatesAPRPoints
3%3.291%0%
 

 


IRRRL

 An 'IRRRL' is an Interest Rate Reduction Refinance Loan.

This Program is ONLY Available to Veterans who ALREADY have an Existing Loan with the Veterans' Home Purchase Board.

This is a 'Rate & Term' Refinance ONLY, and NO CASH OUT.  You may, however, finance the VA Funding Fee AND any Closing Costs involved.

There is Reduced Paper work on this type of loan and NO APPRAISAL is Required.

 

 



 


Unless otherwise indicated, these APR calculations are based on the following: Conforming loans (whose maximum loan amount is below $484,350 for the contiguous states, District of Columbia, and Puerto Rico or below $636,150 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $300,000 with closing costs of $6,000. Jumbo Loans (whose maximum loan amount exceed $484,350 for the contiguous states, District of Columbia, and Puerto Rico or exceed $636,150 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $453,100 with closing costs of $9,062. Your actual APR may be different depending upon these factors.