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Show Interest lowered on VA loans Interest rates on Veterans Administration-guaranteed loans for manufactured (mobile) homes have been lowered, advises Floyd Johnson, VA loan guaranty officer for Utah. It was the fifth such rate decrease in the last 10 months. The rate for manufactured-home-only loans was decreased from the previous 14.5 percent to the current 14 percent, effective ef-fective last Jan. 10, he said. At the same time," the rate of 14 percent per-cent for manufactured home andor lot loans was reduced to 13.5 percent. For a veteran buying a manufactured home with a 15-year average VA-guaranteed VA-guaranteed loan of $20,000, the rate decrease would lower the monthly payment pay-ment by- about $42. The lowered rates didn't affect existing homes, whose interest rate remains the same for the life of the agreement. But, Johnson stressed, "refinancing of such manufactured-home loans to a lower rate usually is the veteran's advantage." |