Refinance with no FICO Requirement or Appraisal is one of only a few lenders in the nation allowing veterans home owners to refinance a VA home loan without an appraisal, AVM (Automated Value Method) or FICO score requirement.

Other lenders are tying down potential refinances by requiring costly appraisals and hefty credit score requirements making it nearly impossible for borrowers with bad credit or lost home equity to refinance. has relationships with lenders that are willing and able to refinance existing VA home loans without any of these requirements.*

“We have a very unique situation where we are basically able to refinance any veteran with a VA home loan,” Owner of, Eric Kandell said. “With the rates as low as they are right now we have helped hundreds to thousands of veterans with subpar credit get locked in at lower interest rates.”

Many borrowers have even tried to refinance with their current lenders, but are still unable to meet the FICO requirements and forced to stay at higher rates in a poor economy.

Home appraisals have always been a standard procedure for veterans looking to purchase or refinance their home.  However, does not require an appraisal to refinance an existing VA loan saving the borrower typically about $400-$500.

With the unique ability to refinance loans with no FICO score or appraisal, is required to lock loans in a pool forcing many of these loans to wait to have their interest rate locked.

Because the loans are locked in a pool, is maneuvering a massive amount of loans through a very small window. Because the rates are so low, thousands of people want to lower their rate and save money.  When the lender pool is filled is unable to lock new loans until the new pool of loans is funded.

The consequence is that many borrowers may have intended to get a certain rate at a certain cost, but because the pool was full, the borrower is pushed back and unable to lock in the interest rate.  This can cause the interest rates and cost to change on a VA streamline before the loan is processed.

“Most of our current clients are unable to refinance through other outlets and we are doing everything we can to help them,” Kandell said.  “We are attempting to funnel through as many loans as we possibly can sometimes causing our pool of loans to be filled.”

However, potential borrowers are never tied into doing a loan. compensation on the loan does not change regardless of the costs or interest rates. This puts in a great situation to advocate for borrowers to help every potential borrower get the best possible interest rate.

“Potential borrowers should understand they still have control over what they want to do.” Kandell said. “When lenders come back and offer a different rate they have the right to take the current rate offered or wait the market out to see if the rates drop again.”

Borrowers not locking their interest rates do run the risk the market will change and the rates can rise.  There is no way to predict what the interest rates will be the next day, week or month.  Interest rates can be very volatile and there are never any guarantees for borrowers that have not locked their loan.

For those borrowers that find themselves in this situation, the increase in closing costs is usually around $1,000 -$3,000 and those costs are able to be rolled into the loan typically only increasing the loan $3- $7 per month. guarantees it will provide the best interest rate available to borrowers looking to refinance.

With this situation remains one of a very small number of lenders that is able to help veterans with lower FICO scores and refinances without an appraisal.  Thousands of veterans are finally able to lower their rate and save hundreds of dollars every month.

The current rates for a 30 year fixed loan are around 3.75% right now and continue to hit record lows.  For veterans stuck in higher interest rates now is the time to refinance and save some cash.

* Though LowVARates does not require a minimum FICO score, they will look at the overall ability of the Veteran to make timely mortgage payments and may decide to not offer a loan if someone has had 30 day late mortgage payments in the recent past, has had a short sale or foreclosures or other extreme credit issues.  The score if not needed, but the history tells a lot about the home owners ability to make their new mortgage payments.


21 thoughts on “Refinance with no FICO Requirement or Appraisal

  1. How low is low? Are you offering 2.0 or a 2.4%. We curently have a VA 3.75 and are looking for a 2.0 without a 10,000 cost. Can your underwritters give us a 2?

  2. You would have to get a 5 year hybrid loan to get into the 2% range. Hybrid is a great option if you are only staying in the home for 5-10 years


  4. I have a question about the va streamline refinance rates! Last year I used the VA streamline refinance through chase bank, and got a interest rate of 4.75% for a twenty year loan. I was wanting to know what the current interest rate is for a 15 year loan? My credit score is around 600, and have not missed or been late on my mortgage in 4 years. My current balance is $69.500. Thank You for your time.

    Michael Myers

  5. I have a 4.25 FFA streamline loan (Oct 2012) Am I qualified for a VA streamline loan? Would it be advantageous to refi from 4.25 to 3.75. How much would this drop monthly mortgage payments. I have a recent VA Certification letter. What is a 5 year hybrid loan in the 2% range?

  6. You are right on the border line. it depends how much you still owe on your home…Typically if you can lower your interest rate a full point its a no brainer. The 5 year hybrid is a GREAT option if you know you are going to be in your home for 10 years or less. What is a number or email we could contact you at?

  7. Michael,

    I’m not a loan officer so i can’t quote you rates, but what i can tell you is your interest rate is definitely high enough to consider refinancing.

  8. We have never utilized VA benefits although I served and was honorably discharged back in 1979. I have a 30-yr conventional loan at 5.125% and want to refinace to get a better rate. Credit scores are around 600 – 700 depending on if you check my wife’s or mine scores. We owe 390,000 on our loan and have been current for many many years. I have tried to refi with other companies (not a VA loan) but because of the credit score, the amount of the loan and our debt to credit ratio I can’t seem to get a good rate. Any input?

  9. James,

    We would love to help you out. 5.125% is a pretty high rate in this market, we can definitely lower that for you and help you save some money.

  10. I have a 3/1 hybrid now that is do to adjust in Jan. of 2014, my current rate is 3%, any idea what my new rate would be. My current principal and interests $2335.00

  11. we can’t really perdict what the rate will be in 2014, but if you want to refinance into a 30 year fixed we can help you out with that

  12. In 2011, I divorced and relocated to Louisiana from Texas. Would like to know how long I must wait to apply for a VA loan after doing a “cash for keys” deal after home value fell 30-35 percent. I couldn’t find a buyer or renter in a timely manner, and paying rent in Louisiana and a mortgage in Texas was not feasible long-term. Thanks!

  13. Nicholas,

    Sounds like this is most likely a short sale and you would have to wait about a year for that.

  14. Craig Walton or et al,

    I am a Viet Nam Veteran with a Service Connected Disability. However, I am employable and, in fact, have been working at my current full time position as a professional Counselor with the VA in Houston, TX for almost seven years now. I purchased my home in 2006 with a Conventional 30 year fixed loan at 7.25% interest. Apparently my loan was purchased in 2009 by Fannie Mae, but is Serviced by Green Tree Servicing LLC. in the 6 1/2 years I have owned the home, I have never been late or missed a payment. However, my credit score has been damaged in the last few years as a result of having a Liver Transplant with unbelievalbe medical expenses to us (even with good insurance). I had to be on leave for more than six months, and have just now stabilized financially from that crisis. Anyway, I attempted one re-finance application (non VA) and was turned down because of my credit score. My home would appraise today (I am a former R.E. Appraiser) between $160-170K and I currently owe about $105K. I am considerably disheartened and drawing on reserve courage to even make another attempt with y’all. But, we are in no danger of losing our home; just in need of a refinance at a lower rate to help us regain our economic stability.

  15. James,

    first off, thank you for your service. We appreciate what you have done for our nation. What is your credit score currently??

  16. I divorced in 2005 and paid the house off this year. I have my certificate and I own a home, but needs inprovements about $35,000.00 is what I am looking for to put up fence and deck, air a few things. my credit is about 627 but looking at my credit report my ex-wife left alot unpaid in my name and I have disputed it. Any help for me?

  17. Hi, we are currently paying a 30-year loan of $209000. The interest rate was originally 5.25%. In order to receive a modification to get the interest rate lower we had to go over 30 days with our payment. The bank then granted a mod for 4.5%. We tried to refinance instead of a mod but because we are underwater with our mortgage they wouldn’t do anything. We are eligible for a streamline but the 30 day late is on our record as of 8/12. Is it possible to refinance under the new rules with this information. Our credit is clear except for this mortgage.

  18. i just made my first payment on a $200,000 Dolls. Home Loan my interest rate is at 4/25% my payment
    is $1,230.17 PITI a month I think I have a pretty good loan .? can a new loan lower my payment or not ?????
    am 100% service connected .

  19. Gilbert,

    we can definitely run those numbers for you and see if we can help you save even more money. Give us a call at 866-569-8272 and we will help you out

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