Veterans have some significant advantages over other borrowers once it comes to home refinancing. The government, aimed to help former service members, offers quite a few options. Whether you just want lower monthly mortgage payments, or have major expenditure in mind, such as home renovation or a large purchase, VA may offer a low-cost solution. Many veterans also take advantage of VA loans if they need debt consolidation, as it allows for getting out of debt quicker and saving money on rates and loan fees. No matter what your goals are, the following financing options, available through VA only, may help:
VA Streamline Refinance Loan
Being the best construction loan texas refinance product in the lending market today, VA streamline refinance loan may help you to refinance at an attractive rate and flexible terms, bringing the benefit of reduced monthly payments and lower overall borrowing cost. It is also known as IRRRL and has very relaxed qualification requirements. Credit scores of the borrowers are commonly not considered, making it an extremely attractive choice for bad credit borrowers.
VA Debt Consolidation Loan
VA debt consolidation loan allows you to borrow as much as 100% of your home equity. It is great for home owners who have accumulated some equity in their homes and are looking to consolidate all or part of their debts into one loan with lower interest and more affordable payments. Due to attractive interest rates and prolonged durations, it is probably one of the most money-saving debt consolidation products in the market today.
VA Refinance Relief
Recent real estate crisis that left many households with decreased home values also caused many to get upside-down on their mortgages. VA refinance relief, a lending product specifically developed to assist troubled home owners, allows veterans to refinance their non-VA loans that …