Home arrow Mortgage Forums arrow Loan Talk for First Time Home Buyers arrow

VA streamline refinance

Author Message
Icon Mini Profile frankmcdowell2000





Joined: 07 Sep 2009

Posts: 57

0.00 Dollars($)
Post Posted: Wed Sep 30, 2009 5:49 am    Post subject: VA streamline refinance
Like 0
Dislike 0

With a VA streamline refinance do rates go down?
Icon Mini Profile jerry
jerry
Moderator



Joined: 17 Oct 2005



Posts: 2615
Location: MICHIGAN
415.19 Dollars($)
Post Posted: Wed Sep 30, 2009 6:17 am    Post subject:
Like 0
Dislike 0

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
Icon Mini Profile stevecomish





Joined: 16 Sep 2009

Posts: 48

0.08 Dollars($)
Post Posted: Thu Oct 01, 2009 7:16 am    Post subject:
Like 0
Dislike 0

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.
Quick Reply
Your Name
Subject
Image Verification


Can't read the image? click here to refresh
Message body

All times are GMT - 7 Hours
Page 1 of 1

 
Highlights
Bookmark this page
Share |

Helpful References
Mortgage Guide
Mortgage Terms
Mortgage News
Book Center
Shop and Compare lenders
30 Yr. Fixed Vs. 5/1 ARM


Calculators     [View all]
Are you eligible for loan?
How much you can afford?
Calculate monthly payment
Calculate APR


Financial Tools
Credit Repair Tool New
Mortgage Planner
Simple Budgeting Tool


Our Community
MortgageFit Blog
Community Professionals
Community Rewards
Introduce yourself
Website tools


Community Rewards
Five simple ways to earn money with the Mortgage Community.

MortgageFit on Twitter

Followers (265)








Community Chat

We have chosen to apply the Creative Commons Attribution License to all works we publish. This work is licensed under cc by 2.0
Page loaded in 21.066 seconds.