VA Loans San Diego

jmjoyce45678 — Thu, 27 Nov 2008 04:05:50 +0000

1. Interest Rate Reduction Loan – www.socalvaloans.com
One of the great features of VA home loans is the ability for active military and veterans do easily reduce their VA mortgage interest rates by refinancing to a lower rate 30 year fixed VA home loan. If you currently have a VA loan you can take advantage of this program to refinance you VA mortgage into a lower interest rate. This special refinance does NOT require an appraisal, income documentation or credit report. This makes it a super easy, painless process to realize huge savings. Current mortgage interest rates are close to 40 year lows, so there is an opportunity to lower your payment substantially. You must already have a VA loan to take advantage of this VA rate reduction refinance. The table below shows the savings of refinance from a 6.75% rate to a 5.75% rate. These rates are examples
Loan Amount Payment at 6.75% Payment at 5.75% Yearly Savings
$150,000 $972 $875 $1,164
$200,000 $1,297 $1,167 $1,560
$300,000 $1,945 $1,750 $2,340
$400,000 $2,594 $2,334 $3,120

Get more information about VA Home Loans Click HERE

2. Refinancing from a NON VA Home Loan to a VA Home Loan – www.socalvaloans.com
If you currently have a mortgage that is NOT a VA home loan, and you are a veteran or active military, you can also refinance into a 30 year fixed (or 15 year fixed) VA home loan. This may be particularly attractive to you if you are currently in a adjustable rate loan. In order to complete this VA loan refinance, you would need to have your property appraised and provide your credit and income documentation. Another great attribute of VA mortgages is that you can have a loan up to 100% of your properties value.

Get more information about VA Home Loans Click HERE

3. Cash Out VA Refinance Loan - www.socalvaloans.com
Whether you currently have a VA home loan or NON VA home loan, you can refinance into a VA loan and get cash back. This loan allows you to go up to 100% of the properties value. In order to complete this VA loan refinance, you would need to have your property appraised and provide your credit and income documentation.
This VA refinance can be a great way to get cash to do home improvement projects. Perhaps you want to redo your kitchen, your bathrooms, your floors or your landscaping. Or, you may want to pay off higher interest rate auto loans or credit cards and thus “roll them” into a low rate 30 year fixed VA loan. A big advantage to using a cash-out VA home loan to complete home improvement projects or to pay off higher interest rate debt is that once that this expenses are not tax deductible since they are part of your VA mortgage. Additionally, you have the security of a 30 year fixed rate.
So as you can see there are some really great options for veterans and active military members to refinance into VA loans to change their situation for the better. If you have any questions, please give me a call and we can analyze your situation and discuss all the options available to you. We are VA approved mortgage company and specialists with VA lending.
Rob Chomentowski
Sr. Loan Officer and VA specialist
858-922-7899
www.socalvaloans.com

Get more information about VA Home Loans Click HERE