In my experience, one of the reasons why people have financial problems is because they don’t like to change. Silly as it sounds people in some cases would rather suffer through a problem than making some type of change to alleviate that pain.

Same can be said for refinancing your mortgage. It is a hassle to refinance – or to get a mortgage in general – I get it, but refinancing can make a world of difference especially if you can substantially reduce your interest rate.

Take the case of a Vet who has a VA mortgage. Vets who have a VA mortgage have access to a loan program called the VA Streamline Loan or IRRRL. The VA streamline loan has some great features and benefits (see below) which make this loan program extremely attractive to those who are eligible and can qualify for it.

Let’s take a look:

• In some cases you may not need an appraisal. However, some lenders are starting to impose their own appraisal requirements because of the extreme decline in property values in some areas of the US.

• In most cases, you will not have to disclose income or assets.

• There is increased leniency on credit score requirements for the streamline program. The mortgage lender approving your new mortgage is most interested in what your mortgage history looks like. Some lenders may want to look at your credit report, but the VA doesn’t require them to.

• You will not have to pay any out of pocket expenses. All of your closing costs can be rolled into your mortgage.

• You may be able to roll into the loan an extra $6000 to make energy improvements to your home. (Talk to your VA loan specialist about this option.)

• It is possible to defer up to to 2 mortgage payments.

With these benefits and loan features in mind hopefully you may be inclined to make a change.

Making a Change: Refinancing Your VA Mortgage Streamline Style is a post from: mesa-az-mortgage.com

Did you ever consider that maybe you should apply for a VA loan? That very same thought has occurred to lots of people. Lots of people have had the exact same idea, and some have even done something about it. Most never get past the daydream stage. Sometimes it is because they do not know how to start. Sometimes it is because the whole idea can be a huge unknown area. In other cases they drop taking that approach because they think that they cannot get it done.

Let’s not get hung up within the negatives before we start. We ought to think and be more analytical. Let’s check out the for and against register on how we could apply for a VA loan and consider them one by one.

Firstly, in its favor, allow me to mention that they can provide up to 100% loan financing. Sure, I understand your objection that you can only get the loan if you’re a veteran. That which you say is true, I agree, however if you’re a veteran with a loan certificate of eligibility, this is the loan for you.

Secondly, you truly should consider that there is no pre-pay penalty on VA loans. And, in addition to that, there is no mortgage insurance requirement. Plus, even better, You can roll closing costs into your VA mortgage.

Third and finally, you’ll get a great loan option which will result in homeownership. In addition to that, you can refinance with a VA streamline in the future if needed.

Once you have had an opportunity to check out the reasons, and think about them, you’ll find that a pretty good case can be made in favor of apply for a VA loan.

Just think about it. Maybe you really, in all seriousness, should apply for a VA loan.

Discover methods to Apply for a VA loan by visiting this website website at www.tendayclose.com/.

Ever Considered Applying for a VA Loan? is a post from: mesa-az-mortgage.com

Created long ago to assist Verterans in obtaining home loans are the VA loans .   These loans are an excellent option for many reasons but  among the many, the most popular are 100% financing, the streamline refinance option, no mortgage insurance, no prepay penalties and non-allowable fees.  When considering your Mesa AZ Mortgage options, a VA loan just may be the right  fit for your needs and budget.   

Let’s look at those specific characteristics to help you understand why those might be the most popular : 

100% financing- Having a significant down payment is one of many struggles of buying a home.  By utilizing a  Mesa AZ VA Mortgage you don’t need a down payment.  By not needing a down payment, you are able to avoid the stress and and worry of having enough to put toward your home.  Instead, you are able to keep more money in your pocket!  After purchasing a new home, having extra money is a much needed thing!

Streamline Refinance- When it comes to refinancing, a streamlined process is definitely desirable!  The intention of a VA Streamline Refinance is to simply reduce interest rates and/or payments.  Applying for a typical loan refinance program can be a lengthy process but the streamline option simplifies it by avoiding time consuming operations such as an appraisal, income verification, and credit qualifications. 

No Mortgage Insurance- Who doesn’t want a reduced payment?  A standard conventional loan may add mortgage insurance if there is not a 20% down payment or equity in the home.  This does not hold true with a VA loan.  A payment with no mortgage insurance means a smaller or lower payment and without the added mortgage insurance, you may qualify for more home. 

No Prepay Penalties- Prepayment penalties can be incurred if you sell your home or pay off your loan within a specified time period.  With a VA loan, prepayment penalties are not an issue.  You are at liberty to sell your home or refinance your home when it works for you and your timeline. 

Non-Allowable Fees- You’ve heard of closing costs?  There are particular costs involved in nearly every mortgage transaction.  However, with a VA loan there are certain fees that cannot be charged to the borrower (that’s you!), hence their name.   Others, maybe the seller or your realtor, can absorb those costs but they are not paid by you.  With non-allowable fees, you may have less closing costs come from your pocket.  It is another opportunity to save money.

If you qualify for a VA loan, you have added buying power, as this is one more type of loan to add to your arsenol.   With 100% financing, streamlined refinancing, no mortgage insurance or prepayment penalties and non-allowable fees, you may find that VA loans are an attractive option to consider.  If you need further assistance in knowing if you qualify, I certainly can help.

Mesa AZ VA Loans: 5 reasons why they are popular is a post from: mesa-az-mortgage.com