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frankmcdowell2000 · Joined: 07 Sep 2009 Posts: 57 0.00 Dollars($)

With a VA streamline refinance do rates go down?

jerry · Posted: Wed Sep 30, 2009 6:17 am Post subject:

Hi Frank,

Interest rates do go down with VA streamline refinance. It actually helps veterans to refinance their existing mortgage at an interest rate lower than what they are currently paying. Streamline refinance is a great option for veterans in many ways. It does not require appraisal. There is no credit requirement for this type of refinancing. No VA employment verification is required, either. However, the existing mortgage must be current. There should not be more than one 30 day late payment on the current mortgage.

Thanks,

Jerry

stevecomish · Joined: 16 Sep 2009 Posts: 48 0.08 Dollars($)

hi frank,

as far as i know it is a requirement of the VA streamline refinance program that rates go down on the new VA loan. Also, you could skip 2 month's mortgage payment with the VA streamline refinance program.

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