The Loan Guaranty Scheme of the Department of Veteran Affairs of the United States Government has helped millions of veterans get the home of their dreams even they don’t have the necessary finances. The state of Arizona has a considerable population of veterans and a large number of them own a home with the help of VA loans. However, there are a number of veterans in Arizona who have a conventional mortgage on their property. Often, they have the question that whether they could refinance their existing conventional loan into a VA loan. In the following post, we would be looking at the possible answers to the question. To the average veteran in the United States Armed Forces there are two types of refinance options available from the VA. One is the VA Interest Rate Reduction Refinance Loan (VA IRRRL), also known as VA Streamline Refinance and the other is the VA Cash -Out Refinance Loan. The VA IRRRL can only be used to refinance an existing VA Loan. So if you want to refinance your conventional, non-VA home loan in Arizona, then the only option available to you would be to take a VA Cash-Out Refinance Loan, as it would be available to you irrespective of the ‘nature’ of your existing home mortgage loan. The VA Cash-Out Refinance Loan is a good option for veterans who want to refinance their loans as it does come with several advantages. For example, you do not have to pay for any Private Mortgage Insurance (PMI) for such a loan. If you would like to know more about the benefits of VA cash out refinance, then you can always get in touch with a VA loan consultancy. If you want to know about the options you have when it comes to refinancing your VA Home Loan in Arizona, then VALoansFinance.com is one of the leading VA approved lenders in Arizona, offering services in areas like Tucson, Phoenix, Mesa, Scottsdale, Glendale and others. They also offer you expert advice, which makes the entire process of getting a VA Home Loan Arizona, a whole lot easier. So, if you want to refinance your existing conventional home loan or VA home loan, with a VA refinance loan, then get in touch with the real experts today!
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. Archives
October 2016
Categories
All
|