Skip to content
October 27, 2014

Lower Interest Rates for Service Members


Mortgage Benefits for Service Members

A new White House initiative aims to increase mortgage benefits  to service members.  Participating banks and institutions will contact eligible military personnel to offer mortgage relief. The initiative includes a six percent interest rate cap for eligible, active service members ─ during their military service and for one year after.

Foreclosure relief is also provided for service members up to one year after their service ends. 

The Servicemembers Civil Relief Act prohibits the sale, foreclosure or seizure of property secured by an eligible mortgage during this time period.

Freddie Mac is providing resources and guidelines to servicers so they can effectively implement military relief for borrowers with Freddie Mac-owned mortgages.

Servicemembers Civil Relief Act

Want to receive our weekly blog round up? Subscribe at right  and each Friday we'll send you our latest posts.

  • Feedback

    Have a comment or question about this post? Email us to let us know what's on your mind.

    Maximum of 250 characters.