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can i refi INTO a VA loan, adding my wife who is actually in the armed forces

this is the story: i own a home (conventional mortgage, something like 60% ltv). my wife has VA benefits and we have been told we can get a lower rate with a VA mortgage and some cash out of equity. How can we both get into the VA loan and get my wife's name on the mortgage? by len.darwish2786707 from Reno, Nevada. Jan 16th 2015 Reply


Dave Metsker (DaveMetsker)
#38 ranked lender in Oregon - 2,317 contributions

Very simple. Your loan broker can add your wife to title at the same time the loan closes.

Jan 16th 2015
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Robert Garcia (robert@otfwholesale.com)
#51 ranked lender in Nevada - 1 contribution

You guys can apply together on the refinance using her VA eligiblityRobert Garcia7025786170robert@otfwhwholesale.com

Jan 16th 2015
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Yes indeed. And you should be looking at some great terms based on recent market movements.

Jan 16th 2015
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Michelle Curtis Loan Originator NMLS 401173 (EmbassyFundingLLC)
#29 ranked lender in New York - 2,236 contributions

You just simply need to refinance adding your wife to the deed

Jan 16th 2015
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William J Acres (William_Acres)
#1 ranked lender in Arizona - 7,802 contributions

This is not a hard loan to do.. so long as she has VA eligibility, you can get a loan, and you both can be on the title.. the VA rates are about 1/2% lower than conventional, but VA charges a "Funding Fee" which can be significant depending on your loan amount, so it could be a wash.. the biggest benefit of a VA cash out refi is that they will go to 100% of your home's value, but If you don't need that much cash back or your loan to value will be below 80%, you might be better off with a conventional refi and save your VA benefits for a purchase later on down the road where you can do it with zero down.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Jan 16th 2015
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Phil Dumouchel (PhilDu)
#32 ranked lender in South Carolina - 2,224 contributions

Sure thing, not a big deal at all! You can potentially refinance up to 100% of the current value.if you want that much cash back. Let me know if I can help, I've handled loans in NV for a friends family - very easy. Email or call: pdumouchel@primelending.com or 843-619-6025 http://pdumouchel.primelending.com **PrimeLending was #4 purchase mortgage lender in the US in 2012 and 2013 as determined by MarketTrac(c) for Jan-Dec 2012 & 2013

Jan 16th 2015
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Phil Dumouchel (PhilDu)
#32 ranked lender in South Carolina - 2,224 contributions

PS, I would of course check to see if a VA loan is a better option or stay with a conventional if that works out better considering the VA funding fee

Jan 16th 2015
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Nathan Kessler (nathan.kessler@guaranteedrate.com)
#45 ranked lender in Nevada - 69 contributions

Absolutely! Just apply together. I am in Las Vegas and can help you today. I look forward to your call. Nathan Kessler City First Mortgage Services 702.683.3126 NMLS # 377217

Jan 16th 2015
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Brad Henderson (bradthelender)
#29 ranked lender in Nevada - 18 contributions

William is taking you down the right path. It will come down to the equity position and your credit scores on whether you should go VA or conventional due to the VA funding fee. Conventional pricing is much more sensitive to credit score than VA. Adding her would be no big deal either way. I have been licensed in Nevada for 25 years and am happy to help in any way that I can. www.loansforvegas.com.

Jan 16th 2015
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Sean Young (SeanYoung)
#2 ranked lender in Colorado - 1,106 contributions

Yes you can. All you have to do is both be on the loan together. VA is a nice option because you can go up to 100% with cash out, but keep in mind that all VA loans have a VA funding fee that is added on top of your loan balance. If your wife has a 10% or greater disability the funding fee is waived. Sounds like you have a lot of equity, if you don't need that much cash out and keep your loan to value below 80% or even better 75% you will still receive a pretty good rate with conventional. I would have your loan officer provide you with both options so you can see what one will be the best fit for you. Best wishes, Sean

Jan 17th 2015
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Brenda Casas (BrendaCasas)
#18 ranked lender in Nevada - 11 contributions

Yes, that is acceptable as long as the Veteran has full entitlement available as you are not paying off a VA loan. The Veteran/spouse if active duty must certify as to intent to occupy if this applies...

Jan 21st 2015
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