The VA Streamline refinance home loan is without a doubt the best mortgage refinance loan on the market. No other refinance loan program is as simple and easy to qualify for and there are so many unique benefits that come along with it. The only qualifier, in order to do a VA Streamline refinance, is that your current loan must be a VA home loan.
One of the biggest benefits of the VA Streamline refinance is that you do not have to go through credit qualification. There is absolutely no need for lenders to pull your credit history and look at your scores. However, your existing mortgage must be current and you cannot have had any more than one thirty- day late mortgage payment within the last 12 months. In order to do a VA Streamline refinance, your current loan must be a VA home loan.
Another benefit is that the regular underwriting process does not apply. Your lender is not going to check to see how much money you make. So you do not need to send in bank statements, W2’s, paychecks, etc. Since you have been making your mortgage payments, they know that you have the means to keep it up. Along with this, leaders are not going to be calling your employer to make sure that you are still working with them before considering giving you a loan. With a VA Streamline refinance an income verification is no issue to you at all, since they will not be checking up on you that way. This means one less stress for you! It’s is just one more little way we try to make this experience as easy for you as possible!
VA Streamline refinances in most cases can allow you to arrange your refinance to be completed with absolutely no out of pocket expenses. All of the closing costs and pre-paid can be rolled into the new loan amount and on top of that there is no appraisal required. As you can see there are so many unique benefits of a VA Streamline refinance as listed above, if it sounds like this is for you, take advantage of this amazing opportunity.