VA Refinance

va-refinance- Wisconsin First Time Home Buyer.com
Take advantage of the historically low interest rates now!!!!!!

Refinancing with a VA Loan

The VA Home Loan program provides qualified homeowners with a simple way to take advantage of lower rates and decrease their monthly mortgage payment. VA homeowners can get cash back on a VA refinance and use the proceeds for a variety of needs, from paying off debt or making home improvements and much more. The current economic climate makes now a great time or many military homeowners to take advantage of the numerous benefits found in a VA refinance.

Two main programs help VA borrowers refinance to a lower rate — the VA Streamline Refinance, also known as the Interest Rate Reduction Refinance Loan (IRRRL), and the VA Cash-Out Refinance.

VA Loan Refinancing Options:

VA Streamline (IRRRL) Refinance Cash-Out Refinance
Often called a “Streamline” refinance, the Interest Rate Reduction Refinance Loan (IRRRL) option is great for existing VA Loan holders who are looking to realize significant savings and take advantage of lower interest rates. An option for those with a VA or conventional loan looking to take advantage of their home’s equity to access cash for home improvements, emergencies, pay off debt, or any other purpose.

A Streamline Refinance allows veterans who currently have a VA Loan to refinance into a lower interest rate, reducing monthly mortgage costs. Streamline refinance loans feature little paperwork and often require little-to-no costs out of pocket. Borrowers can roll closing costs into their overall loan amount. Some homeowners can also secure a Streamline refinance without an appraisal.

The other popular option, known as the Cash-Out Refinance, allows borrowers to tap into their home’s equity and use it as cash. This type of refinance is available to any qualified veteran homeowner, regardless of whether they have a FHA, USDA or conventional loan.

The current economic climate makes now a great time for many military homeowners to take advantage of the numerous benefits found in a VA refinance.

For more information;

FHA Loans

VA Home Loans

Conventional Loans

USDA Rural Development Loans

Mortgage Fees

Mortgage Checklist

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