for the heroes of our country
The VA Home Loan program was designed for the heroes of our country, providing Service-members, Veterans and eligible surviving spouses the ability to reach the American dream of home ownership.
The VA Loan offers mortgage options for ambitious home buyers and for current VA mortgage holders that want to refinance to lower their monthly payment or pull cash out from their built up home equity.
VA Streamline Refinance
For current VA mortgage holders that are looking to lower their interest rate and monthly payment, we present the Interest Rate Reduction Refinance Loan (IRRRL), aka the VA Streamline Refinance. So why the nickname ‘streamline’? Because you’re already employing your VA home loan benefits, the documentation required for a VA Streamline is limited. So if you’re providing less documents to review, the mortgage lender is spending less time reviewing, and that’s faster all around!
Some of the perks of the VA Streamline refinance include:
- No appraisal or credit underwriting package is required
- May be able to refinance with “no money out of pocket” by including all costs in the new loan
VA Cashout Refinance
The VA Cashout refinance is also a popular option. It allows current VA mortgage holders the opportunity to pull the cashout of their built up home equity. What could you do with cash?
- pay off debt
- pay for tuition
- make home improvements
- and more!
If you’re not a current VA mortgage holder, you may still be able to get a VA Cashout refinance loan, so don’t count yourself out, call us to find out!
Big note! You’re able to pull out up to 100% of your home’s equity. Ex: Say your home is worth $250,000, and your current mortgage balance is $225,000. You may have the option to pull out $25,000, or up to 100% of your home’s value!
Buying with a VA home loan
Dreaming of buying a home? There are definitely some unique advantages to buying a home with a VA Home Loan:
- Just to be clear, you don’t have to be a first time homebuyer
- As long as the sales price doesn’t exceed the home appraisal, you’re able to finance up to 100% of the sales price, as in you won’t have to put any money down!
- Extremely competitive mortgage rates
- There is no private mortgage insurance premium to pay (unlike the FHA home loan).
- The VA rules limit the amount you pay in closing costs
- Flexible credit and income requirements
Special Message: Thank you for your service!
A big thank you to those that have served our country. Your service and bravery provides all Americans the freedom to achieve the American dream. If we can, we want to help you reach your home financing goals, because you’ve more than earned the American Dream.
Give us a call and we’d be more than happy to help in any way we can.