Veterans are offered numerous benefits with a VA refinance loan. The two popular VA loans offered are the VA streamline refinance and the cash-out rate/term refinance. These offers are high loan-to-value cash-out loans that allow veterans to pay off existing loans or even combine other high-interest debt. This is a hard-to-find loan that most lenders no longer offer. Contact First Savings Bank today to find out how you can take advantage of this offer.
VA Mortgage Options:
The VA refinance requires less paperwork, expense and effort on the part of the home owner. This also opens up a lot of options for veterans because there are more flexible requirements.
- No appraisal is needed for most veterans
- No income verification required
- Veterans can secure refinancing with less-than-perfect credit
Our experienced consultants can help you decide whether or not this is your best choice for refinancing.
Cash-Out Rate/Term Refinancing
The cash-out or rate/term is a great loan for veterans who need to combine debt or have a conventional loan right now and want to switch over to a VA loan. Some of the benefits include:
- High loan-to-value
- Relaxed credit guidelines
- Allowance for higher debt-to-income (DTI) ratios
Finding the right VA lenders is the first step toward taking advantage of these options.
The difficult economy is making it hard for veterans and other homeowners to secure the financing they need to purchase or refinance a house. As their situations become even more stressful, many are at risk of losing their homes in spite of a good VA home loan. Refinancing now could help you:
- Defer 1 or 2 mortgage payments
- Receive a refund of cash in your current escrow account
- Save money each month on your mortgage payment
VA refinance loans are designed for those men and women who have served our country in the military and we understand and appreciate the sacrifices they made. Get started today and find out how refinancing can help.
I was concerned about doing my VA streamline refinance loan with a company that does loans remotely rather than just going down to the local mortgage company near my home. However, I soon found out that it was much easier than any loan I have every acquired. Everything was handled either through email, fax, telephone or mail. I didn’t even have to leave my home to sign papers at the closing. A notary came to my house on my schedule. The loan allowed me to defer one mortgage payment, receive $950 refund from the escrow account from my former mortgage, and save $72 per month on my mortgage payment on my new loan.