VA STREAMLINE REFINANCE PROGRAM
WHAT IS A VA STREAMLINE REFINANCE? The VA Streamline Refinance is probably the most valuable housing asset a military serviceman or Veteran has at their disposal. Existing VA Loan holders are given an ongoing opportunity to to lower an existing interest rate without the need to re-appraise, without re-qualifying and with no out of pocket costs or expenses. No other loan program offers the ability to re-write a loan without qualifying all over again and spend thousands of dollars in closing costs.The amazing thing about the VA Streamline Loan is the ability to lower your monthly payment and interest rate as interest rates drop without incurring the costs associated with a typical refinance. This is a huge advantage of a VA Mortgage loan. In addition, The VA Streamline Refinance enables skipping the next payment by virtue of the refinance itself, allowing a little extra cash in the first month to use for other purposes.
NO OBLIGATION VA STREAMLINE REFINANCE QUOTE GET PRE-APPROVED TODAY |
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VA STREAMLINE REFINANCE (SIMPLE RATE REDUCTION) | |
SOME STAND-OUT ADVANTAGES OF THE VA STREAMLINE REFINANCE
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No Out-Of-Pocket Expenses. Most of the cost associated with a VA Streamline Refinance is paid by the VA Approved Lender.
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No need for a new appraisal. Where no cash-out is permitted on a VA Streamline Refinance, the loan to value (LTV) is based on the original appraisal.
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No need to qualify again. Unlike the documentation needed to qualify for the original VA Loan, a Streamline refinance only requires that you are current on your mortgage payments, no more than two 30 day late's in the last twelve months, and that the title is clear of all liens or judgments.
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The flexibility to change the terms of your existing VA Loan. A VA Streamline Refinance provides the ability to start your new loan at the number of remaining years left on the current amortization or change the loan term by either extending the amortization back to a 30 year, or lower it to a 25, 20 or 15 year term.
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100% Loan To Value. The VA allows up to 100% Loan-To-Value (LTV). In other words, your streamlined new loan amount can be as much as the appraised value of your home.
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Change the VA loan program. The VA streamline Refinance allows for changing the loan program from the existing VA loan program to a VA fixed rate or any one of the VA Adjustable Rate (ARM) programs with only minor restrictions.
SPECIAL NOTE: The VA Streamline Mortgage (URRL) does not allow cash-out or debt consolidation. This program is strictly an interest rate reduction program for the purpose of lowering the interest rate and payment on an existing VA Loan.
Refinance Quick Links:
VA Debt Consolidation Refinance
When applying for a VA Loan, working with a the right VA Approved Lender who are VA Loan experts and who specializes in originating VA Loans may mean the difference between getting approved or not because of the complexities and specific VA approval guidelines required by the Veterans Administration.
This site has researched and developed relationships with professional high quality VA approved lenders nationwide in an effort to help our valued visitors obtain a VA Loan Quote from a VA Home Loan Expert. To get your VA Loan Quote CLICK HERE
