Choosing the Most Suitable VA refinance rates
If you see your monthly expenses rise without hope of seeking relief, you should know that you are literally standing on a house-full of asset. Tapping in this asset through VA refinance loan rates can help you either to remodel your home, bring down the monthly mortgage amortization, modify the interest payment terms, or get your hands into some much-needed cash. There are three common types of VA refinance rates to choose from.
Refurbish your house with VA refinance loan
You family is growing and you need a new room for the baby but you don’t have any access to any money, the VA home improvement loan is right for you. This is available to veterans, soldiers, members of the Reserves and National Guard and spouses of soldiers who died in the line of duty. You can borrow up to 90% of the equity of your house. This is a good time as any to apply for VA refinance loan rates because the government already removed the $25,000 maximum cap for this type. It comes with a fixed-interest payment term from as low as 5%.
Cash in on your home
An option of VA refinance rates allows you to obtain money to pay bills, buy a new car or just build your cash reserve. Among the many home refinance options, this is probably one that requires the stringent requirement. First, an expert will appraise the value of your home then verify your income and liabilities as well as credit history. If you don’t need much, however, the VA loan serves as a guarantee rather than offer the equity of your house. It helps if you are other outside source of income beyond your monthly pay.
VA Streamline Refinance
This is probably one of the best VA loan rates out there. First, nobody checks on your debt-to-income ratio, or the appraised value of your house. Nobody looks into your debt history or your credit report because your eligibility was already examined the first time you took out a VA loan. Although you should at least have a good payment record for the last 12 months. At 0.5%, the funding fee for VA Streamline is also very small compared to the Cash out Refinance for example (3.3%). With Streamline refinance, you can skip two monthly payments which would give you flexibility to rationalize your budget. No attar what you choose, the important thing is to do your research and shop around for the best VA loan rates for you.
Published by Thoms Stuart on July 19th 2012 | Loans
Published by Freedy Cort on January 5th 2012 | Loans
Published by Sandra Jeux on March 5th 2012 | Finance
Published by Amber Dorsch on January 24th 2012 | Loans
Published by Martin Bale on June 14th 2012 | Loans
Published by Addison Maddy on May 10th 2012 | Loans
Published by Malen Cheks on May 10th 2012 | Loans
Published by Ian Foster on February 17th 2012 | Loans
Published by Alesia Ace on July 11th 2012 | Loans
Published by Steve Matthew on February 3rd 2012 | Loans
Published by Micles Jonson on July 20th 2012 | Loans
Published by Terry Schow on December 29th 2011 | Loans
Published by Dondu Talbot on January 9th 2012 | Loans
Published by Rocky Ales on April 6th 2012 | Loans
Published by Raj Sharma on July 20th 2012 | Loans
Published by Moneylaxmi on December 16th 2011 | Loans
Published by John Simen on April 23rd 2012 | Loans
Published by Aldis Roy on May 26th 2012 | Loans
Published by Addison Maddy on July 20th 2012 | Loans
Published by Alex Abigil on April 19th 2012 | Loans