VA Refinance Loan Types

Adjustable Rate Mortgage

VA adjustable rate mortgages are designed for low to moderate income families. This
program can help keep initial interest rates and mortgage payments as low as possible. The
interest rate on this loan product will adjust after 2 to 3 years, depending on what loan
product you choose.

Fixed Rate Mortgage

VA fixed rate loans benefit those who would like to have a fixed interest rate for the life of the loan. The interest rate will be set for 15 to 30 years, depending on what loan product you choose. A fixed interest rate helps insure a steady and consistant mortgage payment.

 

VA Refinance Loan Products

Option 1
VA Streamline Refinance (for current VA borrowers)

VA streamline refinance is considered streamline because it reduces the interest rate on your current VA home loan quickly and often without an appraisal. This loan product also cuts down on the amount of paperwork that must be completed saving you valuable time and money.

NO - Appraisal
NO - Credit check
NO - Income verification

To qualify for a Streamline Refinance you must currently have a VA loan in good standing.

When you refinance to a VA insured mortgage, you can expect a lower monthly mortgage payment.

Option 2
VA Refinance (cash out)

VA "cash-out" refinance allows you to take cash-out up to 90% of the value of your home. Enjoy the flexibility and benefit of VA cash-out refinance even if you don't current have a VA loan. Lower your rate, and take cash-out.

 

Option
VA Refinance (rate & term)

When you lower your interest rate, you lower your monthly payment! Enjoy the flexibility and benefit of VA loan products even if you don't current have a VA loan. Lower your rate, lower your monthly payment.