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What else can I help you with?
What are the going rates if I want to refinance my va mortgage loan?
The rates to refinance a va mortgage loan varies. It depends on the mortgage company and the individual obtaining the mortgage. The rates for refinancing vary depending on a variety of factors. Your should talk to your mortgage company or a financial consultant to help in this endeavor.
Does the VA guarantee their mortgage loans?
Yes, a VA mortgage loan is guaranteed. A VA loan is a mortgage loan guaranteed by the US Department of Veterans Affairs.
What risks are involved in if I refinance via mortgage loan?
Va mortgages are typically fixed rate mortgages. If you refinance you run the risk of getting into a variable rate contract with a balloon payment.
I want to do a VA refinance on wife's fha mortgage in my name only but you I not on the deed or the original fha mortgage Lender says this isn't a refi Will it work if I am added to the Deed?
you can refi the mortgage without your wife. you do not have to ad yourself to the deed you can be placed on ded at the day of closing. VA will consider this a VA cashout mortgage, and will only go to 90% of the loan to value. Your name can be added at closing
What is the best bank to refinance my va mortgage loan ?
There is no one set answer for this question. If you are interested in refinancing a mortgage loan, you need to discuss this with the bank that you pulled the original loan with. At that point, you would need to discuss the terms of a refinance and make the best decision for what works for your financial situation. There is no "rating" guide as to what bank is the best at refinancing.
Is it possible to refinance a mortgage without requiring an appraisal?
Yes, it is possible to refinance a mortgage without requiring an appraisal through certain programs such as the FHA Streamline Refinance or the VA Interest Rate Reduction Refinance Loan (IRRRL). These programs allow for refinancing without a new appraisal under certain conditions.
What are the benefits of a va refinance option?
The VA refinance option—whether it's an Interest Rate Reduction Refinance Loan (IRRRL) or a VA Cash-Out Refinance—offers several key benefits for eligible veterans, active-duty service members, and military families: Lower Interest Rates: The VA IRRRL allows you to refinance your existing VA loan to a lower rate, helping reduce monthly payments. No Out-of-Pocket Costs: Many VA refinances allow you to roll closing costs into the loan or include them in the interest rate. No Private Mortgage Insurance (PMI): VA loans don’t require PMI, helping save even more monthly. Cash-Out Option: Access your home equity through the VA Cash-Out Refinance to pay off debt, make home improvements, or cover other expenses. Flexible Credit Requirements: VA refinance loans often have more lenient credit guidelines compared to conventional options. Streamlined Process: The IRRRL offers a faster, simplified process with less paperwork and no appraisal or income verification in most cases. Overall, VA refinance options provide affordable, flexible ways to save money or access home equity—exclusively for those who’ve served.
Change to va mortgage from conventional mortgage?
In order to move from a conventional mortgage to a VA mortgage you would have to refinance. In most cases when changing from one program to another, changing loan term, etc, a refinance is necessary, though you can often refinance with very few out of pocket expenses.Of course to obtain a VA loan you will need to meet the requirements such as a being an eligible veteran or active duty member of the US military, having a certain credit score, and being able to qualify based on your current income and the amount of your other debts.You can learn more about this program here: http://afrmortgage.com/va-loans.phpBest of luck!
Where could someone get more information on a refinance loan in VA?
One could get loan refinancing information in Virginia from the VA Gov website. One can also find information on Wikipedia and sites like Mortgage Calculator and Home Loan Learning Center.
What is the definition of a VA mortgage loan?
The definition of a VA mortgage loan is a loan that is guaranteed by the Veterans Administration. The purpose of this loan is to assist veterans and their families in obtaining home financing.
We have a jumbo ARM loan for my home that I bought in 2005. We want to refinance our loan to a fixed rate but mortgage compamies are dening our apps because the home had dropped in value at current market values. Where can we go for help.?
You can try refinancemyarmloan.com as they specialize in helping people with ARM loans. If you are a veteran, go to freevaloan.com and get a jumbo VA loan at no cost.
How to Save Money with a VA Refinance Loan?
The Veteran's Administration (VA) mortgage loan was created in 1944, guaranteeing repayment of mortgage loans for qualified veterans. The VA loan program has expanded since that time to include all active duty, retired and military reserve personnel. To receive a VA loan, armed forces veterans must provide proof of their eligibility to the Office of Veteran Affairs.How to Qualify to Refinance Your VA LoanIf you already have a VA loan, you know its benefits, especially being able to buy a home with less money down than a traditional mortgage loan. Now that interest rates are at the lowest they have been in years, you may want to take advantage of that and refinance your VA loan. To do so, you will have to prove to the VA that you are eligible. They require documentation of your military service and proof that you were discharged honorably, which the military should have provided to you in form DD214. Additionally, you will need to send form 26-1880 to start the application process for your VA loan refinance.Documentation Required from Your LenderAlthough each lender has individual requirements, standard documentation requests in a VA loan refinance include a copy of your VA loan eligibility, a detailed accounting of your expenses, W2 or 1099 forms proving your income and a list of all other assets. Eligibility for a VA loan refinance is determined by the amount of income you have left over after all household expenses are paid. You may have to carefully track every expense for a month or more to come up with this figure. A copy of your credit report will also be requested.The Next StepsAfter your have demonstrated your eligibility and the loan officer has analyzed the documents you turned, the next step is for the lender to arrange for an appraisal to be done of your house and property. This is to insure that your home's value is in line with the loan amount you are requesting to refinance. The final value of your home is determined by comparing several similar structures in your neighborhood and calculating a value.After all the steps above have been completed, the lender will approve your loan and set up a closing appointment for you to sign loan documents.
