There are two great VA loan refinancing Options:
The VA Streamline (URRRL) Refinance which allows you to refinance your existing VA loan and often allows you to take advantage of lower interest rates.
The Cash-Out Refinance is an option that allows you to take advantage of your home’s equity. With either a VA or conventional loan, you can refinance to access the cash for home improvements, emergencies, to pay off debt or any other purpose.
Is a VA Refi Loan right for you?
If you want to refinance an existing VA loan, a VA Streamline loan may be good for you. With little paperwork and often without an appraisal, you can roll closing costs into the overall loan which means little-to-no no costs out of pocket.
Cash-Out might be perfect if you want to use your home’s equity as cash. This loan is available to any qualified veteran homeowner with a VA, FHA, USDA, or conventional loan. Use the cash as you see fit.
Benefits
Lower interest rate thus reducing monthly mortgage payments
Little paperwork and little out of pocket costs
In some applications, there is no appraisal.
Cash-out loans can be used in conjunction with an FHA, VA, USDA, or conventional loan.
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Refinancing may help lower you monthly payment, get you a better mortgage rate, and shorten your loan term.
A cash-out refinance may help lower your mortgage interest rate, consolidate debt, and increase your credit score.
Find out if you’re ready to take on homeownership with a personalized evaluation of your loan options and credit.
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