Here’s how new VA lender rules will help protect troops and veterans

Here’s how new VA lender rules will help protect troops and veterans - The rules require loans guaranteed by VA to meet certain requirements designed to ensure the beneficiary isn’t being scammed. Among them:
- A new fixed loan’s interest rate must be at least half a percentage point less than the previous loan. Adjustable-rate refinances must be at least 2 percentage points less.
- The lender must certify that all costs and fees will be recouped by the borrower within 36 months of the loan date.
- Veterans can’t refinance to another VA-backed loan for 210 days (up from 180) or the date on which the sixth monthly loan payment is made, whichever is longer.