If you are a U.S. military veteran with a conventional or VA mortgage, a high interest subprime mortgage, or an adjustable rate mortgage that is about to reset, now is the perfect time to refinance into a lower-cost loan. The Department of Veterans’ Affairs (VA) offers several refinancing programs that could significantly lower your mortgage payment. By choosing a VA mortgage refinance over a conventional …
Why a VA Mortgage Refinance?
VA guaranteed loans are made by private lenders, such as banks, savings & loans, or mortgage companies to eligible veterans for the purchase or refinance of a home which must be for their own personal occupancy. If the loan is approved, the VA will guarantee a portion of it to the lender. This guaranty protects the lender against loss up to the amount guaranteed and allows a veteran to obtain more …
VA Mortgage Refinance Options
The VA offers two attractive refinance options:
- Interest Rate Reduction Refinance Loan (IRRRL) or Streamline Refinance – A program for current VA mortgage holders. A Streamline Refinance allows homeowners to reduce or lower their interest …
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