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ORVET Home Loan Rate drops to 3.55%
Press Release
Jan. 26, 2012

SALEM -- The Oregon Department of Veterans' Affairs (ODVA) has again lowered their 30-year fixed home mortgage rate—this time to 3.55 percent to qualified veteran home buyers. 
 
The ORVET Home Loan Program offers one of the lowest home loan interest rates available. This new reduced rate includes a 1.375 percent loan origination fee with an APR of 3.793 percent.  Loans with a no-cost origination fee have a 3.88 percent APR.
 
A state of Oregon veteran benefit, the ORVET Home Loan Program is separate from the federal VA home loan guaranty program.  Even if a veteran has purchased a home using the federal VA program, they may still be eligible for an ORVET home loan. 
 
“Our veterans have served our country with honor and distinction,” said Jim Willis, Director of the Oregon Department of Veterans’ Affairs.  “We must always provide them with the very best of what we can offer them. Our new lower rates may allow some of them to take advantage of a great opportunity to buy a home.”

The ORVET Home Loan is a lifetime benefit for eligible veterans with a maximum loan amount of $417,000 for a single family, owner occupied residence.
 
For more information about eligibility and rate details, contact ODVA’s Home Loan Department at 1-888-673-8387, or visit http://www.oregon.gov/ODVA/HOMELOANS.
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