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The Servicemembers Civil Relief Act was passed in the 1940s to help military people cope with the requirements of being on active duty. Did you know that you can get an interest rate reduction to go to no more than six percent per year during your active duty service?

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August 21, 2017
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Is There an FHA Military Mortgage?

FHA Common Question #17

The Servicemembers Civil Relief Act was passed in the 1940s to help military people cope with the requirements of being on active duty while trying to meet their financial obligations at the same time.

Did you know that you can get an interest rate reduction to go to no more than six percent per year during your active duty service? This is true of both commercial FHA mortgages, but there is one catch. You must make a request to get this reduced rate. You may also be required to renew your request at periodic intervals as permitted by the Civil Relief Act.

Make sure you completely understand the requirements of your lender and the rules of the Relief Act to take full advantage of this important FHA loan benefit.

NEXT:  What if I Fall Behind on My Payments?

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