FAQ - VA Streamline Loans
You May Find Your Answer About the VA Streamline Program Here
In this section, you find our answer to the questions we get most often from veterans about the VA Streamline Program.
I have to have a VA Loan on the house I wish to refinance, right?
This is correct. The VA Streamline Program only works with VA-to-VA refinances.
Can I get a different interest rate if I change lenders?
Chances are that you'll find a better rate somewhere. It all depends on how willing you are to do research.
I know I can get a better interest rate through the VA Streamline Program, but how does this work?
Through the VA Streamline Program all VA Refinance Loans are partially guaranteed by the federal government. This guarantee protects part of the lenders investment when they lend money to veterans. This one-of-a-kind guarantee is only available to veterans.
I'm just a little behind on my mortgage, what do I need to do to qualify of the VA Streamline Program?
One of the rules established by the VA is that you must be absolutely paid-up on your mortgage. If you have missed or paid late more than one monthly payment, then unfortunately, you cannot qualify for this program.
If I don't have my Certificate of Eligibility is there an alternative way for the lender to verify my VA eligibility?
One of the best features of the VA Streamline Program is the ease in which a lender can check your eligibility. The VA has set up, just for lenders, an email confirmation procedure that allows them to check this.
My friends have recommended a good mortgage company, but I'm not sure that they're approved by the VA. Can I still participate in the VA Streamline Program through this lender?
The answer is no. Your lender must be approved through the VA. There are no exceptions.
If you have more questions about the VA Streamline Program please contact us and we would be happy to walk you through the benefits of the program.