Q.  Do I need to have a VA loan in order to do a VA streamline refinance?
A.  Yes, the VA streamline loan is for Veterans who currently have a VA loan.

Q.  Do I need to get an appraisal for a VA streamline refinance?
A.  The VA does not require an appraisal, but the lender that you work with may have their own rules and require some sort of valuation of your home.

Q.  Can I get any cashout on a VA streamline refinance?
A.  No, the VA does not allow for any cashout or to payoff any other debt with this refinance.

Q.  How long will it take to complete the process on a VA streamline refinance?
A.  This will depend on the lender that you work with on your refinance, but a good loan officer should be able to close a VA streamline refinance in about 2-3 weeks.

Q.  Do I call the VA directly to find out about rates on a VA streamline refinance?
A.  No, the VA does not offer interest rates…they just guarantee the loan.  You need to contact a VA approved lender that specializes in VA home loans.