VA Refinance Rates

VA Refinance Rates

VA Refinance Rates are convenient and profitable for homeowners formerly serving in the military in order to lower their mortgage payments on their existing VA mortgage. Homeowners can apply their VA eligibility to a mortgage and acquire a VA refinance to lower their current mortgage payments. A streamline option is also available whereby the borrower is able to bypass the majority of paperwork and fees involved in a typical refinance transaction and consequently to acquire their funds quicker and in a more affordable manner than other refinance options. Below are benefits of a VA Refinance:

Streamlined Refinance

Veterans have the unique benefit of being able to refinance current loans to lower rates without requalification. This means that veterans can skip income verification, home appraisals, and income documentation.

No out-of-pocket expenses

VA allows for all refinancing closing costs to be financed into the new mortgage. The VA only requires a nominal funding fee of the new loan amount. If you are 10% or more disabled, you are exempt from all of VA’s funding fees.

Include Home Improvement Costs

Veterans can include up to a maximum of $6,000 in the refinancing loan for energy efficient home improvements.

VA Requirements

The refinance must be VA to VA, and no cash can be received at closing.