Mar
14
Just when you think interest rates for VA loans could not get much lower, they go lower. These low rates have sent many veterans to lending companies and banks, looking to lower their monthly payments with a streamline VA refinance loan. Most homeowners to want to save money on their monthly mortgage payments and this loan is simply the fastest way to achieve that goal. Stricter lending criteria has hurt many people who are looking to refinance, but not veterans.
I read all about the program in a VA loan blog, and I was impressed. Typically, homeowners cannot come up with the money for closing costs, or they do not qualify for a refinance because of poor credit. The very people that need to lower their monthly payments are denied. The Veterans Administration has covered these typical problems, so veterans can qualify.
More and more individuals cannot refinance, so if you are a qualifying veteran, you should take advantage of this great program while it is still available.
Let’s face it, your home probably isn’t worth what you think it should be. Avoiding an appraisal is another good reason to use this program. Home values keep plummeting, refinance while you still can. Even if the housing market recovers, it will be a long, painful process. Act now to lower your monthly payments and take advantage of no-appraisal loans.
Leave a Reply