What is a VA Refinancing Loan?
The VA Loan program is one of the most favorable loan options on the market for active military and veterans. With this program, you can utilize all the way up to 100% of the value of your home without any PMI! Anyone who qualifies for the VA loan program should seriously consider its benefits if they don’t already have a VA loan. Click Here to find out how a VA loan can help you!
There are three distinct VA loan categories:
- VA Cash-Out
- VA Streamline Refinance, also known as the VA IRRRL
- Rate and Term refinance to pay off another type of mortgage, such as Conventional or FHA. Eligible borrowers can take advantage of this if they want to lower rates, eliminate PMI, or combine a first and second mortgage.