Items to Gather for Your VA Streamline Refinance

With 30 year interest rates falling once again to incredibly low levels, this is a great time to think about lowering your interest rate with a VA loan streamline refinance.  This loan is technically called a IRRRL.   Here are some highlights of the VA streamline refinance:

• You have to be already in a VA loan to do a VA streamline refinance (but if you are not in an VA loan you can still refinance into an VA loan from a non VA loan, please conact for details)
• You do not need to get an appraisal
• You do not need to provide ANY income documentation
• This loan does not require a credit report

So the VA streamline refinance can be a very painless way to drop yourself into a lower interest rate and lower your mortgage payment.  You can complete a VA streamline refinance with zero out-of-pocket costs.  So you can drop your monthly mortgage payment without any out of pocket expenses.  VA does require .5% funding fee that can be rolled into the new loan.  This is waived if you have a 50% or greater service level disability.

Here are the items to have prepapred to complete a VA streamline loan:

1. Original deed of trust (should be part of the original documents signed when you purchased)
2. Original HUD 1 settlement statement from when your purchased (should be part of the original documents signed when you purchased)
3. You most recent mortgage statement
4. Copy of your existing note (should be part of the original documents signed when you purchased)
5. Homeowners insurance declaration page
6. Photocopy of drivers license and social security card

We can also assist you in gathering items 1,2 and 3 if you provide us with the contact information of the escrow company that handled your original closing. 

So these are all the only items we need and we can drop you right away into a much lower interest rate fixed for 30 years and saving your tens of thousands in interest over the life of your VA loan.  Please email or call below if you have any further questions.

Warm Regards,

Rob Chomentowski

Sr. Loan Officer and VA home loan specialist

858-922-7899 (direct)

rob@affinity-financial.com