The Benefits of a Refinance with a VA Loan Explained

The VA has worked hard to provide a VA Refinance Loan that would provide maximum benefits to veterans. When a generally or honorably discharged veteran or active-duty military man or woman chooses to refinance with a VA Loan, the can rest assured that they have a guarantee from their federal government that this loan is safe and one of the best.

The VA wants to take care of veterans that may have credit issues. Because of this, they have waived the need for a credit check with you refinance with a VA Loan.

Additionally, the VA has taken their fees to the bare minimum. They have only one fee. Their one fee is ½ of one percent. That's .5%. That's nothing. This cheap fee will lower your closing costs.

Also, if you like you can take this small fee, along with closing costs, and wrap them into your mortgage payment. This means you don't have to bring any cash to your closing, as the costs will be paid over time.

It's probably already plain to see why this loan has grown in popularity. This loan is a wise investment for your family.

To save time, the VA has also allowed veterans to bypass an appraisal and home inspection.

Another time-saving characteristic of a Refinance with a VA Loan is the simple-to-use email verification procedure for checking a veteran's VA eligibility. This completely discards the need or requirement for a Certificate of Eligibility.

If you need a speedy close, maybe less than a month, then a refinance with a VA Loan is potentially your best bet. The because the VA has streamlined many of the requisites for this loan, you'll find that you can get to signing your closing documents in a more timely fashion.

All of these benefits can add to your peace of mind and reduce your stress.

Our loan counselors can help with the logistics of a Refinance with a VA Loan. Please contact our office with any lingering questions you may have.