VA Debt Consolidation Loan

If you are a veteran or service member and are eligible for a VA loan, you can consolidate your mortgage, credit card debts, car loans, home equity loans, etc. into your home mortgage.  Debt consolidation loans have three main requirements; income qualification, credit qualification and an appraisal on your home. The VA will allow up to 100% of the appraised value of your home to consolidate debt.

Combining multiple loans into one home loan has numerous benefits including: Lower monthly payments Lower overall interest rate by eliminating high-interest credit cards, car loans, and/or second mortgages (home equity loans) Interest on home loans is tax deductible, interest on car loans and credit cards is not One payment each month versus multiple payments to various companies If you have high-interest debts and would like to consolidate them into one loan with a low interest rate and lower monthly payments, this program is a very good option.