Did you know the VA allows certain veterans to hold two VA loans at once? While it’s not the norm, it is possible if you meet specific requirements. Essentially, the VA loan is for owner-occupied properties only. It’s a program that helps veterans secure home financing without needing a lot of money for a down payment. But, there are ways you can have two VA loans and be within … [Read more...] about Reusing VA Loan Benefits
Veterans have the benefit of securing 100% financing for a home purchase. They also have the benefit of the streamlined refinance program once they have a VA loan. In order to qualify for a VA IRRRL, you must have timely mortgage payments and have a net tangible benefit for the refinance. Many people believe this means only a better interest rate. Looking for Current … [Read more...] about VA IRRRL Net Tangible Benefit Policy About Interest Rates
Veterans have the great benefit of securing 100% financing for their home purchase. The loan provides simple guidelines and much flexibility. Many people wonder, though, just what is the verification process for income and assets? Does it work the same as other programs? Looking for Current Mortgage Interest Rates? Click Here. We take a look at the answer below. What do … [Read more...] about Income and Asset Verification During VA Loan Process
If you are a veteran with a VA home loan, you have the benefit of refinancing with the IRRRL program. The Interest Rate Reduction Refinance Program has one objective - to help make your payment more affordable. The VA doesn’t require lenders to verify any qualifying factors for your loan with the exception of your mortgage payment history. In exchange for this leniency, you … [Read more...] about Cash-Out Refinancing: Is it Possbile with an IRRRL?
You waited long enough – interest rates are right where you want them so you are ready to refinance. Before you jump in head first, you should ask your lender the following important questions. Looking for Current Mortgage Interest Rates? Click Here. What is the APR? Don’t let yourself get so focused on the interest rate that you forget about the APR. The APR is the total … [Read more...] about The Top Questions to Ask Your Lender Before a Refinance