VA loans are not lent by but guaranteed or insured by the U.S. Department of Veterans Affairs (VA). They are a part of the benefits laid forth by the 1944 G.I. Bill of Rights and were instituted to provide affordable, comfortable housing with low maintenance terms to our servicemen and women and their families.
Generally, the following people are eligible:
Note: There are other groups of individuals who may be eligible. To determine your eligibility, check eBenefits at www.ebenefits.va.gov, or contact VA Eligibility Center at 1-888-768-2132.
Advantages of a VA Loan:
Remember that VA loans were created to help veterans transition into better housing, and so VA loans come with a range of benefits unheard of in other home financing programs:
VA Loan Programs:
VA Streamline, also called Interest Rate Reduction Refinance Loan (VA IRRRL)
Streamline refinances allow veterans with existing VA loans to modify their terms and lower their rate without a home appraisal and less paperwork than required by a typical refinance.
VA Cash-Out Refinance
VA Cash-Out refinances allow veterans to refinance into a VA loan if they did not already have one, as well as refinance their existing VA loan. The Cash-Out option allows them to both refinance and take cash out of their home equity.
Apply for your free quote online or talk to one of our VA loan experts at (877) 908-6250.