If you want to refinance into the lowest interest rate loans on the market, then you need to check out VA Streamline Loans. VA Streamline Loans carry the U.S. government's partial guarantee. This partial guarantee contains a big impact on the interest rate the lenders are willing to pass on. Veterans can only do themselves a favor by looking in these special refinance loans.
About VA Streamline Loans
The official name, according to the federal government, for VA Streamline Loans is Interest Rate Reduction Refinance Loans. But we prefer VA Streamline Loans because this name describes them best. The VA has painstakingly worked to offer the best interest rates and to minimize the verification process for veterans. We feel like they have succeed in their endeavor.
Veterans who have been valiant in paying their mortgage payments monthly, and who haven't been tardy in paying more than one of these payments, are great candidates for VA Streamline Loans.
VA Streamline Loans offer another great feature...They allow you to roll all of your closing costs and fees into one loan. You don't have to have any money for closing. This is for many the biggest expense, and quite frankly, the biggest hangup to get a VA Refinance Loan. Fortunately, VA Streamline Loans do away with many of the heavy fees.
These streamlining features of VA Streamline Loans really accelerates the closing process. If you're in a big hurry to refinance. You need to examine the qualifications for these special loans very carefully.
You won't need a credit check. You don't need to have inspectors out to your house. The appraisers can go appraise someone else's house. With VA Streamline Loans, you don't need any of these verifications.
Remember, VA Streamline Loans are just for veterans. Civilians can't take advantage of these great features. If you need expert-advice, call our office for more information about VA Streamline Loans.