The VA Loan Refinance Specialists
Not sure if you Pre-qualify for VA Refinancing Almost every Veteran is eligible for Veterans Affairs benefits, which include VA Home Loans. Here at VA Mortgage Center.com, we believe Veterans should make the most of these benefits. Whether you are refinancing your home loan to pay off debt, do home improvements or to lower your interest and monthly payments, a VA Refinance over a conventional one is beneficial. Why? It saves you money! Find out if you Pre-qualify by filling out our no obligation VA Refinance online request form.
We want to help you get started with your VA refinance by getting you in touch with a VA Refinance Specialist. Our well trained, highly experienced staff can help you determine which VA Loan or VA Refinance is best for your specific needs and assist you through the entire process. Contact a VA Refinance Specialist today!
Get started with your VA Loan Refinance
3 Types of VA Refinances
VA Streamline Refinance- If you currently have a VA Loan and wish to lower your rate, you may choose a VA Streamline Refinance. A VA Streamline Refinance is also known as an Interest Rate Reduction Refinancing Loan, or simply an IRRRL.
Cash out Refinance- If you currently have a VA Loan and have built up some equity, you may be eligible for a VA Loan Refinance to take cash out or pay off debts.
Conventional to VA refinance- If you currently do NOT have a VA Home Loan, but are eligible, you may refinance your conventional mortgage to a VA Mortgage.
1) VA Streamline Refinance
If you currently have a VA Home Loan, you can refinance for a lower rate using a VA Interest Rate Reduction Refinancing Loan, or IRRRL.
A VA IRRRL allows you to get a lower interest rate on a current VA Loan with no out-of-pocket closing costs.
Benefits of a Streamline Refinance, or IRRL
- No out-of-pocket costs
- No monthly mortgage insurance
- No appraisal required.
- No income or credit check to qualify
- Only .5% funding fee on all interest reductions
Pre-qualify for a VA Streamline Refinance
2) Cash-Out or Debt Consolidation VA Refinance
If you have built up equity in your home, you may be able to use your VA benefits to refinance and receive cash out up to 90% of your home's value. This money can be used to pay off debts, make home improvements or go towards other expenses.
Benefits of a Cash Out VA Refinance
- Monthly mortgage insurance is not required
- You can take cash out up to 90% of your home
- No out-of-pocket closing costs
Get more information on a Cash-Out or Debt Consolidation Refinance.
Pre-qualify for a Cash-Out or Debt Consolidation Refinance
3) Conventional to VA Refinance
When a conventional loan is refinanced to a VA Loan the government charges a funding fee to insure your loan. The fee is 2.15% for Veterans who are first-time users and can be financed into the cost of the loan.
Benefits of a Conventional to VA Refinance
- No monthly mortgage insurance
- Your new interest rate may be lower. In fact, if you have less-than-perfect credit, you may still be able to get the same low interest rates available to those with great credit.
- No out-of-pocket closing costs
- You can also take cash-out up to 90% with a VA Refinance. To determine how much money you can get, contact a VA specialist.
Pre-qualify now for a Conventional to VA Refinance
VA Loan Specialist
If you have questions about whether a VA Refinance is right for you, contact a VA Loan Specialist online or at 800-405-6682 .
