VA Debt Consolidation
Videos feature Tim Lewis, VA Loan Team Manager, NMLS #157603.
Do I have to have a VA home loan already to do a VA refinance?
Many wonder whether they need to have a VA loan already in order to qualify for VA loan refinance programs. You do not have to have an existing VA loan in order to do a full VA refinance loan. A full VA refinance can be done to consolidate debt, get cash-out of your home's equity, or simply to reduce your interest rate or the term of your loan. Many military borrowers with conventional or subprime loans have effectively refinanced using the government-backed security of the VA home loan program. Once you have a VA loan, you are eligible to reduce your rate on that loan more readily and easily with the VA Streamline Refinance program -- otherwise known as Interest Rate Reduction Refinance or IRRRL.
For more imformation about VA loan refinance programs contact your VA mortgage professional.
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