The VA Streamline program is specifically for homeowners who already have a VA loan and would like to refinance to take advantage of lower interest rates. It is considered a streamline because it allows you to refinance quickly, without an appraisal, and requires minimal paperwork on behalf of the lender. Both save you time and money upfront.

Also known as an Interest Rate Reduction Loan (IRRL), a VA Streamline Refinance MUST lower your interest rate or it’s not performed.

In other words, there’s no risk involved.

VA Streamline – The Best Refinance Available?

The VA Streamline Refinance is widely considered to be the best refinance available. No other refinance loan program is as simple and easy to qualify for as a VA streamline refinance.

A VA Streamline Refinance:

• does not require an appraisal
• cuts down significantly on paperwork
• requires no income verification
• has no qualifying debt ratios
• has only a limited credit check
• guarantees a LOWER interest rate

In short, in today’s economy it’s hard to imagine a better loan program!

VA Streamline Eligibility Requirements

If you currently have a VA mortgage, have a credit score of at least 600, and interest rates today are lower than when you obtained your loan… it’s likely that you’re eligible for the VA Streamline refinance.

Answer a few simple questions and we’ll help you qualify and show you how much you can save. It’s fast, free, and there’s no quicker way to start saving!

Do you have a conventional loan, but wish to take advantage of the benefits of the veteran’s program by refinancing to a VA loan? If you meet the VA eligibility requirements, you’re wise to consider such a plan.

Here are two options available to you.

Cash Out Refinance
A cash out VA refinance allows you to refinance your mortgage and gain access to the equity in your home. Use that equity for debt consolidation, to make home improvements, or however else you wish.

How does it work?

By taking out a VA loan for more than you currently owe, you pay off your current mortgage and gain access to the equity you have built. If you purchased the residence more than one year prior to the refinance, you can refinance up to 100% of the appraisal value with the new VA loan.

• You can avoid out of pocket closing costs
• There is no mortgage insurance with a VA refinance

I am interested in the Cash Out VA Refinance

NO Cash Out Refinance
The benefit of a VA Refinance with no cash out is that it allows you to refinance into a lower, fixed rate VA loan with lower monthly payments than a conventional loan, and the added benefit of no monthly mortgage insurance. With this type of VA refinance, you can refinance up to 100% of the appraisal value, and avoid out of pocket closing costs.

I am interested in the NO Cash Out VA Refinance

Benefits of a Refinancing into a VA Loan

There are many great reasons to consider refinancing into a VA home loan versus a conventional loan.

Firstly, credit score itself does not generally dictate acceptance. Rather, a borrower who demonstrates a willingness to repay credit obligations and has been making satisfactory credit payments for twelve months since their last period of financial difficulty is generally considered a good candidate for a VA refinance.

Additional VA Refinance benefits include:

• NO down payment
• NO monthly mortgage insurance
• NO prepayment penalty
• Fixed interest rate – payments will not increase
• We can negotiate with a seller to pay most or all closing costs
• Great rates, easier qualification

Get Started Now!

If you are a US veteran or active duty military personnel looking to refinance, let us help you get the best rate possible. Our VA refinance experts have extensive experience and streamline the process to make it faster, easier, and hassle free. Apply Today!

The VA home loan program offers Veterans significant benefits when purchasing a home. The government guarantees 25% of the loan amount allowing you to finance up to 100% of the value of your home.

VA purchase loans also require NO monthly mortgage insurance saving you even more money every month.

Additionally, there is no credit score limit. Rather, VA purchase loans are evaluated on a case by case basis focusing on overall past payment behavior. This allows many who suffer from a low credit score (or lacking credit history) to qualify.

What Else Can I do with a VA Loan?

VA loans aren’t just for purchasing your dream home. They’re also a great option for paying off debts on your current home, making home improvements and upgrades, or simply reducing monthly rates and payments compared to a conventional loan.

Despite the significant benefits of the VA Loan program, many of the 27 million eligible Americans don’t take advantage of it. If you’re eligible, take the time to find out what a VA loan can do for you.

Answer a few simple questions, and we’ll show you how affordable home ownership can be!

It’s a fast, easy, free, and there’s no obligation whatsoever…
]]> http://www.thevaloanagency.com/va-purchase-loan/feed/ 0 http://www.thevaloanagency.com/disclaimers/ http://www.thevaloanagency.com/disclaimers/#comments Mon, 20 Jun 2011 15:35:33 +0000 andrewkuo http://www.thevaloanagency.com/?p=17

• VA Loan Agency is NOT a government agency. VA Loan Agency is a subsidy of Consumer Real Estate Finance Co (CREFCO)
• Consumer Real Estate Finance Company (CREFCO) is an equal housing lender.
• Consumer Real Estate Finance Co. (NMLS #104621) is a member of the Better Business Bureau and VA approved lender (2161400008), duly licensed in Ohio (MB.803105.000); Florida (CL0700480); KY (MB71773); UT (6638229-MLCO); Virginia (MC-4892 by Virginia State Corporation Commission); Commonwealth of Pennsylvania (20877); Georgia Residential Mortgage License (#24094) and Michigan (FL0017201).
• Fees & charges apply and may vary by product and State. APR shown assumes 2% points. Subject to underwriting approval. Application required; not all applicants will be approved. Full documentation & property insurance required. Loan secured by a lien against your property. Consolidating or refinancing debts may increase the time and/or the total amount needed to repay your debt. Taxes & insurance extra. Terms, conditions & restrictions. Lock in agreement required to secure rate. Recent rate but subject to change without notice. Rates, loan products, & fees subject to change without notice. Your rate and term may vary. Call for details.
• Texas Complaint Recovery Fund Notice
  CONSUMER REAL ESTATE FINANCE CO., NMLS # 104621, IS LICENSED UNDER THE LAWS OF THE STATE OF TEXAS AND BY STATE LAW IS SUBJECT TO REGULATORY OVERSIGHT BY THE DEPARTMENT OF SAVINGS AND MORTGAGE LENDING.

  ANY CONSUMER WISHING TO FILE A COMPLAINT AGAINST CONSUMER REAL ESTATE FINANCE CO., NMLS # 104621, SHOULD COMPLETE, SIGN, AND SEND A COMPLAINT FORM TO:

  THE DEPARTMENT OF SAVINGS AND MORTGAGE LENDING
  2601 NORTH LAMAR, SUITE 201
  AUSTIN, TEXAS 78705

  COMPLAINT FORMS AND INSTRUCTIONS MAY BE DOWNLOADED AND PRINTED FROM THE DEPARTMENT’S WEB SITE LOCATED AT http://www.sml.state.tx.us OR OBTAINED FROM THE DEPARTMENT UPON REQUEST BY MAIL AT THE ADDRESS ABOVE, BY TELEPHONE AT ITS TOLL-FREE CONSUMER HOTLINE AT 1-877-276-5550, BY FAX AT (512) 475-1360, OR BY E-MAIL AT SMLINFO@SML.STATE.TX.US.

  THE DEPARTMENT MAINTAINS THE MORTGAGE BROKER RECOVERY FUND TO MAKE PAYMENTS OF CERTAIN ACTUAL OUT OF POCKET DAMAGES SUSTAINED BY BORROWERS CAUSED BY ACTS OF LICENSED RESIDENTIAL MORTGAGE LOAN ORIGINATORS. A WRITTEN APPLICATION FOR REIMBURSEMENT FROM THE RECOVERY FUND MUST BE FILED WITH AND INVESTIGATED BY THE DEPARTMENT PRIOR TO THE PAYMENT OF A CLAIM. FOR MORE INFORMATION ABOUT THE RECOVERY FUND, PLEASE CONSULT SUBCHAPTER F OF THE MORTGAGE BROKER LICENSE ACT ON THE DEPARTMENT’S WEB SITE REFERENCED ABOVE.

In 1944, President Roosevelt signed the GI Bill of Rights into law, providing our nation’s veterans with federally guaranteed home loans requiring no down payment.

VA loans are a great option if you’re looking to purchase your dream home, pay off debts on your current home, make improvements, or simply reduce your monthly rates and payments.

Our VA home loan experts are able to offer you fast, friendly advice, rates and information.

Benefits of VA Loans

• NO down payment
• Eliminates monthly mortgage insurance
• Less strict credit and income standards
• NO prepayment penalty
• We can negotiate with seller to cover most or all closing costs
• Lower interest rates and monthly payments
• Easier qualification process

Am I Eligible? VA Home Eligibility Guide

Wondering whether you’re one of the 29 million Americans who qualify for the VA home loan program? If ANY of the following apply to you, chances are you are eligible for a VA loan:

• 90 days or more of active duty service during wartime
• 181 days or more of active duty service during peacetime
• You were discharged from service (not-dishonorable)
• You are currently active duty personnel and meet either of the above service requirements
• You are the surviving spouse of a Veteran who died during service or service-related injuries and are not remarried

America’s VA Mortgage Loan Expert

As you can see, there are many reasons why it’s a sound financial decision to consider a VA home loan. The government is grateful for all of the American Veterans and military personnel who have served our country and has created this program to help you find and keep the home of your dreams, as affordably as possible.

The VA Loan Agency hopes to do its part as well, and strives to help veterans take full advantage of the VA loan program and all of its benefits. Our VA loan experts have extensive experience and will streamline the process to make it faster, easier, and hassle free.

How can I apply?

Simply complete our secure online application, and a VA expert will provide you fast, friendly advice, rates and information. It’s fast, easy and free.