If you are a veteran that served enough time in the military and has an honorable discharge, you may have access to the VA loan benefit. This loan program provides 100% financing on most homes worth up to $484,350. Looking for Current Mortgage Interest Rates? Click Here. But can you just go to any lender […]
Your VA IRRRL Payments Might Increase – Here’s Why
If you are thinking of refinancing your VA loan with the VA IRRRL program, you are probably expecting your payments to decrease. What if we told you that there is a chance that they could increase? It’s true. In some cases, the payment does increase and it still qualifies for the ‘net tangible benefit’ requirement […]
VA Loans: What Type of Property can you Buy?
If you are a veteran with eligibility for the VA loan, you probably wonder what type of home you can buy. Because there are many more options than just the standard single-family home, you may come across another property type that piques your interest. Looking for Current Mortgage Interest Rates? Click Here. Keep reading to […]
Does your Service Type Affect the Funding Fee?
If you use your VA benefit, you will pay a funding fee. This is the only charge that the VA charges. Unlike the FHA or USDA program, the VA doesn’t charge any mortgage insurance or other monthly fees. You only pay your standard principal, interest, real estate taxes, and homeowner’s insurance in your payment. Looking […]
Do You Need a Clear CAIVRS for the VA IRRRL?
Government-backed financing is supposed to be easier to qualify for and in most cases, it is. This is especially true with the VA IRRRL or Interest Rate Reduction Refinance Loan. Some people know it as the ‘VA streamline refinance.’ Whatever name you call it by, it has the same meaning – you can refinance without […]
Can you Increase Your Loan Amount With a VA IRRRL?
You may be able to increase your loan amount with a VA IRRRL if you meet certain requirements. While technically it’s not a cash-out refinance, there are ways that you can get a little more out of your loan. Keep reading how you can increase your loan amount with a VA IRRRL. Looking for Current […]
Can I Take Equity Out of my House to Buy Another?
If you have equity in your current home, you may have quite an investment there. What if you want to further your investment in real estate, though? Can you use the equity in your home to buy another home? Looking for Current Mortgage Interest Rates? Click Here. The answer might be ‘yes.’ It depends on […]
VA IRRRL: Things to Know Before you Apply
The VA IRRRL program is a great way to refinance your VA loan with little verification required. The process is simple and with the right lender and the right circumstances, you can get it done within a short amount of time. Compare Offers from Several Mortgage Lenders. Before you apply for the VA IRRRL program, […]
Interest Rates are Higher: Should you Refinance?
You probably think of refinancing only when interest rates drop. Who doesn’t want to save money, right? Contrary to what you might believe, though, there are times when it does make sense to refinance when interest rates are higher. Compare Offers from Several Mortgage Lenders. Keep reading to find out when it might make sense […]
Do You Need an Appraisal With the VA IRRRL?
The VA IRRRL program is a unique refinance program available only to veterans with a current VA loan. The program allows you to refinance just your current outstanding balance plus any associated costs. In exchange for the strict loan amount requirements, you don’t have to verify your credit score, income, assets, or the value of […]