Can the VA Loan help me lower my monthly bills?
The VA has two major refinance programs. One, the Interest Rate Reduction Refinance Loan, better known as a VA Streamline, helps homeowners get into a lower-rate mortgage to reduce their monthly payment. VA Streamlines come with minimal hassle and paperwork. The VA does not require appraisals or credit checks on Streamlines, but some lenders have recently made them mandatory. We are still able to process some Streamlines without an appraisal, which is a tremendous benefit given the decline in home values across the country. Homeowners have to pay closing costs on a VA Streamline. But these can be rolled into the overall loan amount, along with up to $6,000 in energy efficiency improvements.
Can I refinance my home if I don’t currently have a Kentucky VA Loan?
Kentucky Veterans and active duty homeowners who qualify can refinance into a KEntucky VA loan using the program’s cash-out refinance program. The process for obtaining a Cash-Out Refinance is similar to the process borrowers go through for a VA purchase loan, from the income verification and debt-to-income ratio to a home appraisal. Qualified homeowners with conventional or FHA mortgages do not have to take out cash when they refinance into a VA loan. But they are ineligible for the simpler VA Streamline program.
- Frequently Asked Questions on Kentucky VA loans (kentuckyvaloan.wordpress.com)
- Louisville VA Streamline Refinance (kentuckyvaloan.wordpress.com)
- Top VA Specialty Lender Brings Speed and Expertise to San Diego (prweb.com)
- Refinance your Kentucky Mortgage Loan (louisvillekymortgage.net)
- Qualifying For VA Jumbo Loans (prweb.com)
- So you are thinking of refinancing….. (marciarobinson.wordpress.com)
- What are the Different VA Loan Programs? (louisvillekentuckyvamortgage.blogspot.com)
- Louisville Ky Mortgage Lender FHA/VA KHC USDA Kentucky Mortgage: Is Now the Time to Refinance Your Home? (3/22/13) (louisvillekentuckyvamortgage.blogspot.com)
- Compensating factors may affect the loan decision for a Kentucky VA Mortgage Denial. (kentuckyvaloan.com)
- Louisville Kentucky VA Refinance Loans (kentuckyvaloan.com)