VA Refinance Options
VA Refinance loans are what we do, we don’t mess around with other types of loans! We like to be good at what we do, and we are. While we can offer many different types of refinancing, we have three products that are most popular.
VA Streamline Refinance Benefits
- No Appraisal
- No Out-of-Pocket Costs
- Credit Requirements May Be Lower
- No Income Verification
This process is generally faster and requires far less documentation that other refinances. A VA Streamline refinance requires that you refinance your original VA mortgage using your original eligibility. Many of the traditional closing costs can be rolled into the new loan amount or you may choose a slightly higher interest rate with the lender will covering the costs. Many veterans that refinance with a VA Streamline loan have the option to skip one or two mortgage payments, thereby adding some additional savings to their finances. This may or may not be available to you, be sure to ask one of our loan officers for all the options particular to your circumstances.
VA Cash-Out Refinance Benefits
- Refinance up to 100% of appraised value
- Use the cash to consolidate debt, make a new purchase, home improvements
- Lower monthly mortgage payment
This is an excellent option for those that are in need of a large sum of money. It is better to have a higher credit score to insure the best interest rate and it is important that you can afford the closing costs that are included with this particular refinance. If you are interested in a Cash-Out refinance, our loan officers can work with you to achieve it.
Conventional to VA Refinance Benefits
- Lower interest rate
- No out-of-pocket closing costs
- No Monthly Insurance
The VA has always offered better rates to its veterans. If you did not originally take advantage of your eligibility, this may be the time to do so. The benefits for holding a VA loan are far superior to a conventional loan. Besides, with your service you have more than earned the rewards! Our loan officers can give you a side-by-side comparison between a conventional loan and a VA loan and you can make the decision.