VA loan interest rates are still at shocking all time lows leaving the window open still for VA eligible borrowers to do an easy VA streamline refinance if you already have a VA loan, or a standard VA refinance if you want to convert your non VA loan to a VA loan. Below are some of the highlights of a VA streamline IRRRL refinance and a standard VA refinance:
VA streamline refinance:
• Does not require income or asset documentation
• In
many cases does not require a full appraisal
• Reduced VA funding fee (and of course no VA funding fee if you receive VA disability pay)
• Allows you to “skip” a payment (you don’t have to make the next months payment, 1st payment is due the month after)
• Can be done with no cash out of pocket
• Rock bottom VA loan interest rates
VA standard refinance:
• Allows you to go from a NON VA loan into a VA loan
• If you have a high LTV VA guidelines allow you to go up to 100% of your property value
• VA guidelines allow you to take cash out
• If you want to consolidate high interest debt and put it into your mortgage where it becomes a tax write-off
• Requires a full appraisal
• Rock bottom VA loan interest rates
• Can be done with no cash out of pocket
• Allows you to “skip” a payment (you don’t have to make the next months payment, 1st payment is due the month after)
So feel free to call us at 858-922-7899 or email us as homeloan8@gmail.com if you have any questions about getting a VA loan refinance in California.
Best Regards,
Rob Chomentowski
858-922-7899, homeloan8@gmail.com
Sr. Loan Officer (and VA specialist)
