If you’re considering taking advantage of today’s low refinance rates and served in the military don’t overlook your eligibility for VA mortgage refinancing. You can refinance up to a 100% of your home’s value or 90% if you’re cashing out. Here’s an article on MortgageLoan.com with some of the pros and cons of your VA home loan eligibility:
Many vets aren’t even aware that they can refinance with a VA home loan even if their current mortgage isn’t through the VA. In fact, statistics show that only about a quarter of borrowers who were eligible for a VA mortgage even used one when buying their home in the first place.
If you already have a VA mortgage loan look at VA Streamline refinancing. You may be able to take advantage of today’s low refinance mortgage rates without paying all of the closing costs associated with refinancing. Remember the fees you pay when mortgage refinancing are extremely important because you have to recoup these out-of-pocket expenses before benefiting from a lower payment amount. If you don’t recoup fees from lenders like Amerisave and Wells Fargo Refinance you’re losing money no matter how low the interest rate.
You can learn more about mortgage refinancing without paying unnecessary fees or markup by checking out my free Underground Mortgage Videos.