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The VA home loan is the top benefit for Military Service. It is available for Veterans, Active Military, and qualified surviving spouses. It’s a way for our Government to say THANK YOU to the millions of men and women who have serviced our country.
Features of Streamline VA Refinance Loan
- No APPRAISAL REQUIRED
- No Income Qualification
- No Credit Qualification
- Skip up to 2 mortgage payments
- Refund existing escrow account
- No out-of-pocket expenses
- Fast, in-home closings
- Close in 10-14 days
No APPRAISAL REQUIRED
Many home owners have growing concerns about the decline in home values and the affect it will have on their ability to refinance and take advantage of a lower mortgage rate. This is not the case for Veterans with an existing VA home loan. You are now able to take advantage of the VA IRRRL (interest rate reduction refinance loan) with out an appraisal. This is a major benefit to our veterans.
No Credit or Income Qualifications
Similar to the appraisal requirement, the VA interest rate reduction refinance loan does not require that we verify current income and that the veteran have a credit qualification. The only items we verify is that you do currently have a job and that you are current on your mortgage payments for the past 12 moths. Other than that, no income or credit qualification is required to take advantage of the VA IRRRL.
Record Rates for Veterans
It is a long established fact that interest rates are at an all time low. The Federal Government through the VA have allowed veterans with an existing VA home loan to take advantage of these rates. Many veterans are able to save thousands of dollars on the interest they pay on their home loans by taking advantage of these programs. Best of all, there is no appraisal required, so a veteran can really take advantage of these low rates without concern of the current value of their home.
* 3.817% APR