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VA Home Loan
Refinancing with a VA Home Loan
The VA Refinance Home Loan helps qualified homeowners to reduce their current interest rate and decrease their monthly mortgage payment. Military homeowners can even get cash back on their VA refinance to accomplish things like making home improvements, paying off debt, to establish an emergency fund, or for any other reason they might have. This is an excellent time for Veterans, active service members, and select spouses to take advantage of the current economic climate and make use of all of the benefits that come along with a VA Refinance Home Loan. Getting started is easy, just give our VA Home Loan Specialists a call at (888) 301-3465 or start your VA Refinance quote online.
The two most popular programs that help VA homeowners to refinance their current Home Loan to a lower rate are the VA Streamline Refinance; which is also referred to as the Interest Rate Reduction Refinance Loan (IRRRL), as well as the VA Cash-Out Refinance.
VA Streamline (IRRRL)
- The Streamline refinance (IRRRL) is an excellent way for homebuyers with an existing VA Home Loan to lower their interest rate and achieve substantial monthly savings with a lower mortgage payment. You cannot receive any cash from the loan proceeds.
VA Cash-Out Refinance
- The VA Cash-Out Refinance is an option for homebuyers with an existing Home Loan to access cash based upon the equity they have in their home for home improvements, to pay off debt, for emergencies, or for any other reason that they might have.
Are you thinking about refinancing? Speak with a VA Home Loan Specialist to discuss what your options are.
A VA Streamline Refinance allows Veterans, active service members, and select spouses who currently have a VA Home Loan to refinance into a lower interest rate VA Home Loan and achieve substantial monthly savings with a lower mortgage payment. VA Streamline Refinance loans require little paperwork and frequently there are little or no out of pocket closing costs. Borrowers can also include their closing costs into their total loan amount. Some VA homeowners can even obtain a VA Streamline Refinance without the requirement to have an appraisal.
Another option that is available is the VA Cash-Out Refinance. This option allows borrowers to take advantage of the equity that they have built up in their home and use it as cash. It is not necessary for the homebuyer to have an already existing VA Home Loan and is available for any qualified Veteran, active service member, and select spouses regardless of whether they have a FHA, USDA, Conventional or VA Home Loan.
VA Refinance Eligibility
Eligibility for a VA Refinance is very similar to a VA Loan to purchase a home.
Do you have questions about whether you qualify?
Our VA Home Loan Specialists are available to answer any questions that you might have about the VA Home Loan Program. Please give us a call at (888) 301-3465 or you can get started online.