It is time to lock in the interest rate for our VA Loan. The bank that we are going with has a website that lists today's interest rate for a VA loan at their bank as 4.25%. However, when I called our loan officer today, she said the interest rate for our loan would be 4.75%. Our middle credit score is 680. We've had perfect since the BK. Do you think we're being charged the higher interest rate because of the Ch7 bankruptcy?
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Filed Ch 7 Petition: 12/17/08
341 Meeting: 01/14/09
Discharged: 03/18/09
Closed: 03/18/09
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We applied last month for a loan through Rural Development via a bank (turned down by RD Direct). They said to expect around a 4.75% rate. When we received our loan docs last week, it has a 5% rate.
I called & asked why & was told that as of June 12 rates had gone up slightly. I still think our BK has something to do with it though. We have done everything right since bk too & have around the same score you listed.
Discharged Ch 7 9/10/08
Livin' the GOOD life -
I think you are right. We don't want to "rock the boat" so we're taking the higher rate. We locked today at the 4.75%.Filed Ch 7 Petition: 12/17/08
341 Meeting: 01/14/09
Discharged: 03/18/09
Closed: 03/18/09Comment
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Congrats! Good luck on everything
Discharged Ch 7 9/10/08
Livin' the GOOD lifeComment
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Yeah, this is an inspiring thread. Good for you, hope!
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