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VETS CAN NOW SAVE 100’S PER MONTH WITH A STREAMLINE REFINANCE

Todays Date: December 16, 2018

If you are in or were in the military and own a home then you need to learn about a VA Streamline Refinance. This is a loan that allows you to refinance an existing VA loan into another VA loan. These loans require no certificate of eligibility, no appraisal, no income documents and virtually no underwriting! On top of that rates are generally 1-2% lower than conventional mortgages, this can save you $100s per month!

A VA streamline refinance is a type of transaction that provides you with the easy availability of getting a new VA Mortgage. It works for all those who currently have a VA home loan. This refinancing allows you to enjoy all benefits the veteran’s administration offers but with a much lower interest rate. Since closing costs are minimal and can be rolled into the loan, out of pocket costs in VA streamlining refining is almost negligible. These loans are different form the typical loans that we all know about. If you try a conventional bank refinance, you may have to wait for months to get the loan approved since they demand various formalities and documents which is quiet difficult to accumulate all at once. But since these loans are for VA home owners, they don’t require such documentation and thus are quite fast.

This loan allows you to refinance your current mortgage interest to a lower rate with minimal underwriting and documentation. This facility is available only to those people who have utilized their original eligibility and are seeking to refinance their current home. However, this loan involves certain restrictions. The main one being that you cannot take and excess cash out on this transaction, this is simply a rate/term refinance. But, its major advantage is that you are not required to provide any proof for your employment, salary, certificate of eligibility or have an appraisal! The only condition required is that you have an up-to-date history of repayment of your mortgage in the past twelve months.

VA streamline refinance is also called as IRRRL. IRRRL is nothing but an abbreviated form of interest rate reduction refinancing loan. It is also called a VA refinance for short…
VA refinancing is often preferred by people over Conventional refinancing because of the easy qualification and underwriting process. So if you are a veteran and are looking to save some money on your mortgage, then please look into this as an option to save thousands of dollars per year!

leena is writing about VA streamline refinance . For indepth info, please visit her website: http://www.vamortgage-loan.com/va-streamline-refinance/

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