Interest Rates Are Bound to Go Up – A VA Loan Refinance Can Lock You Into Great Rates

The VA Loan Refinance is also called the VA Streamline Refinance. And compared with traditional refinance loans, it is very streamlined and could save you a lot of money and important time. As a veteran, you could potentially qualify for this program is you meet the VA's few but strict criteria.

Don't bother applying for this loan if you need money back at closing. The rules are clear that this is not the type of loan vehicle with which to get money back.

Although interest rates are going to go up, right now they continue at historic lows. If you can take advantage of these lows and lower your interest rate just 1% this will potentially allow you to keep thousands more of your hard-earned cash over the course of the next 5-10 years. There are plenty of other useful ways to spend your money.

You should take an extra close look at the VA Loan Refinance if you plan to be in your house more than a couple more years. The VA Loan Refinance loan benefits those most who stay in their homes longest.

If you had a VA Hybrid Loan, you could potentially see your interest rate rise. But this might not happen if you are passed the initial fixed-rate period when your rate did not adjust. Some veterans have found that they can refinance with VA Loan Refinance into a lower interest rate that they are now getting in the adjustable-rate period of their loans.

Other veterans use the VA Loan Refinance program to shorten the life of their loans from 30 years to either 15 years or even down to 10 years.

You can get more stability and security with a VA Loan Refinance because you can also move from a VA Hybrid ARM to a VA fixed-rate loan.

Contact our VA-sanctioned experts to find out which VA Loan Refinance option is best for you.