Whether or not you currently have a VA guaranteed loan, if you are eligible for a VA home loan you may be eligible for a VA refinance on your current mortgage. There are a few different VA refinance options:
• VA Refinance (Traditional) – the focus of this video.
• VA Streamline (IRRRL)
• VA Cash-Out Refinance
If you did not use your VA benefit when purchasing your home but want to lower your monthly payments through a refinance, you will be asked to provide the same documentation required for a new loan (such as paystubs, tax returns and bank statements). Also, this refinance program allows only 90% of the home’s appraised value as the new loan amount.
Do you have questions about your eligibility for a VA refinance? Contact Veteran Center today at 1-800-910-VALO. That’s 1-800-910-8256. We are open 24/7 to better serve our troops overseas.
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