iFreedom Direct® Press Releases
Top VA Mortgage Lender Delivers Toys for Military Kids
Salt Lake VA Hospital Set to Distribute before Holidays
Salt Lake City, Utah – December 2, 2011 – iFreedom Direct® Corporation, a top-ranked national VA mortgage company, makes a difference with a very special 2011 holiday project. Through Operation Impact Gifts, hundreds of the lender’s employees donated toys and gifts to the children of military veterans. The objective was to fill the “iFreedom Shuttle” chock full of unwrapped toys, coats, hats, mittens and scarves suitable for military kids ages 12 and under. The stretch economy van then delivered the donated goods directly to the local VA hospital whose administration will distribute the gifts to children of veterans in need.
Each holiday season, iFreedom Direct® employees select a charitable project in order to give back to the veterans who fight for our freedom. This season’s charitable program was chosen in line with the company’s overall “vet-centric” mission. And, it’s the first year that the company is working directly with the VA hospital on a charitable project.
Last year, iFreedom Direct® employees gave generously with payroll deductions to purchase “phone-home” calling cards for soldiers fighting in Afghanistan, and to fund a charitable dinner for the new Navajo Code Talkers Museum in New Mexico to open in 2012. Throughout this year, the team has regularly sent large care packages through its Operation iFreedom Cares to Iraq and Afghanistan for the Troops serving there.
“The holidays are the ideal time to express appreciation to those who have served our country,” says Tim Lewis, Sales Manager for iFreedom Direct® and veteran of Operation Iraqi Freedom. “This year’s project geared toward youngsters just made sense for us,” he goes on to say.
The majority of iFreedom Direct® mortgage products are VA loans, which are a benefit for many military servicepersons. The iFreedom Shuttle loaded with toys and other gifts arrived at the VA Hospital on Friday afternoon, December 2, 2011.
To learn more about iFreedom Direct visit www.DirectVALoans.com. To learn more about the donation contact Belinda Karabatsos, manager of the Voluntary Service at the VA Hospital in Salt Lake City, Utah at 801-584-12141.
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National VA Lender Debuts Blog on Popular Military Site
Veterans can follow Military.com blog to learn more about VA loans
Salt Lake City, Utah – October 1, 2011 – iFreedom Direct, a national VA specialty lender, debuted a new blog about VA-guaranteed mortgages on the popular military website, Military.com. The seven-day-a-week blog entitled VA Home Loans Presented by iFreedom Direct can be found at http://valoan.military.com.
Now, veterans and active duty military members who want to know more about the military mortgage program can follow the blog and get real answers to real questions about common VA loan topics.
Each week, the blog covers a series of categories regarding VA-backed mortgages. The blog begins Monday with a military-friendly basic training about VA loans. Tuesday’s topic is eligibility and qualifying. Wednesday is all about VA purchase and refinance loans. Thursday blogs provide the ins and outs of the VA mortgage process and the various forms required. The Friday discussion covers costs and rates. Saturday content is dedicated to answering the most frequently asked questions regarding VA-guaranteed loans. And, finally, a Sunday “Sound Off” reviews the week in blogs in case readers missed a day.
iFreedom Direct’s Marketing Director, Justin Bath, says, “The new blog on Military.com covers the whole gamut in response to our customers’ hunger for more information. We provide a variety of resources over the internet including articles, videos, Tweets, press releases, and now this blog in hopes to keep military members well-informed of their home loan entitlements.”
Many of the VA’s benefits available to veterans have gone unused in the past. And, the VA has made a concerted effort over the past two years to better inform veterans of their military benefits in hopes that they will use more of them. Military.com and iFreedom Direct have been working in tandem since 2009 to help get the word out about VA home loan benefits.
VA loans require no money down within conforming loan limits, and they also have no prepayment penalties and an interest rate advantage over other mortgage programs. Veterans’ mortgages are available only to retired veterans, active duty military personnel and certain surviving spouses. U.S. military members, Selected Reserves and National Guard members can become eligible for special home loan entitlements through their dedicated service to our country.
iFreedom Direct is a top-ranked VA lender providing the country’s military affiliated with federally-backed mortgages through the VA Home Loan Guaranty Program. These include purchase loans, streamline refinance and cash-out refinance. The company funds VA-backed mortgages in nearly every U.S. state. To learn more about iFreedom Direct, visit www.directvaloans.com.
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2011 Golden Opportunity for VA Refinance
Leading VA lender says now may be the time for veterans to refinance
Salt Lake City, Utah – September 26, 2011 – iFreedom Direct, a VA specialty lender, announces a golden opportunity for veterans looking to refinance their mortgages. Whether they already have a VA home loan or not, military members who qualify can take advantage of the lowest mortgage interest rates in recent history. Last week, the average 30-year fixed rate mortgage was 4.09%, and 15-year rates are as low as 3.29%.
When rates are this low, every veteran who qualifies has the potential to cut the term of their existing loan and build equity faster. Something VA-eligible borrowers may consider while interest rates are down is refinancing with a shorter term VA loan. A hypothetical comparison of a $250,000 mortgage amortized at 30 years and 15 years might look like this:
- 30-year loan at 6% = $1,499 monthly or total of $539,595 over time
- 15-year loan at 3.5% = $1,787 monthly or total of $321,697 over time
(tax and insurance not included)
Though the 15-year VA mortgage may cost a little extra each month, the savings over time is compelling. The 30-year borrower at 6% will end up paying $289,595 in interest. But, a 15-year mortgage at 3.5% will cost the borrower just $71,697 in interest. While rates are low, a 15-year mortgage may be something borrowers may want to take a closer look at.
For military members who can’t afford a higher monthly payment, getting a 30-year VA refinance with a lower interest rate and no mortgage insurance is still a great opportunity.
Refinancing with a VA loan now can save most VA-eligible borrowers big money. First, refinancing an existing mortgage balance at today’s lower interest rates will likely result in a lower monthly payment. Second, the mortgage insurance charged to borrowers with less than 20% equity who use FHA or Conventional refinancing programs is not required with a VA loan.
According to CoreLogic market research, 63% of residential mortgages have interest rates above 5%. Also, 46% of homeowners with mortgages have less than 20% equity in their homes.
Historically low interest rates of 2011 have sparked a miniboom in the mortgage refinancing market. And, borrowers who can afford a slightly higher monthly payment are opting for shorter-term mortgages according to Freddie Mac.
iFreedom Direct’s production manager, Dave Turville says, “Today’s rates are as low as I’ve seen, making this an exciting time for VA refinancing, especially for shorter term loans because so much more of the payment goes toward principal.”
Headquartered in Utah, iFreedom Direct has U.S. Department of Veterans Affairs approval to originate and underwrite VA home loans. The company funds VA mortgages in almost every U.S. state. iFreedom Direct’s professionals have specialized in government-backed mortgage lending since 1984, and can assist VA-eligible borrowers with all home loan needs.
For more information on the VA specialty lending of iFreedom Direct, visit www.DirectVALoans.com.
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