There is a refinance program currently being offered by the Department of Veteran Affairs. If you currently have a VA mortgage loan, then you may qualify for the VA Streamline loan for veterans. Whether you’re in active duty or previously served in the military, your VA mortgage is offering relief.
Saving money has never been so easy. You’ve served your country and are a veteran – so why not cash in on the benefits of being one?
In today’s economy, the government is actively trying to get everyone back on the right path. If the mortgages across the country can be repaired, then the economy begins to improve. The VA streamline loan for veterans is an interest rate reduction loan. It’s not only simple, but easy to qualify for. It’s the best mortgage refinance option available on the market – if you are a veteran.
Look around at other refinancing options. You’ll learn that you’re responsible for a fair amount of fees involved with refinancing, and often, the rate will still be adjustable, meaning that your significant savings could be short-term.
If you are currently paying an interest rate of 5% or higher, then this is definitely a loan you should consider. Whether you currently have an adjustable-rate or a fixed rate mortgage with a VA loan, you can qualify for this new loan. The rates for this loan are at an all-time low and can save you hundreds of dollars every month. Plus, it’s a permanent, low fixed-rate, so you’re locked into the great rate without worrying that it could go up.
By saving money on your mortgage, you can spend your hard-earned money on other things. Paying off other bills will mean that you’re not paying so much interest, which will in turn help you save even more money. Ultimately, if everyone is able to get back on their feet, then the economy turns around. A streamline mortgage is your best option for improving your personal finances.
The loan on your home and its current value can vary quite a bit. A 1% decrease in your interest rate can save you anywhere between $100 and $600 every single month, without spending any money out-of-pocket. Closing costs and pre-paid points can all be rolled into the new loan amount. You can even get your current escrow account credited back to you.
A VA streamline mortgage can be just the thing you’ve been looking for to save you money. Not just a little money, but a significant amount. When there’s no money required from you, saving hundreds of dollars every month can have a dramatic impact on your overall financial liquidity and thus, your lifestyle.