VA streamline


		Streamline Refinance
	FHA - VA streamline refinancing made easy
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FHA Streamline
You can reduce your rate & payment with FHA's streamline refinance. We offer you 3 easy options to start saving now.

VA Streamline
Veterans, take advantage of lower rates today. You could lower your monthly payment with no out of pocket expenses.

VA Streamline refinancing

VA interest rate reduction loan (IRRL)

	New loan must reduce rate & payment
	New loan must replace your existing VA loan
	You may NOT take cash out.
	The new VA loan can not pay off any other liens
	You can roll in closing cost and discount points
	You can convert an adjustable rate to a fixed rate
	You can include energy efficient improvements up to $6,000
	You can shorten the term if you want to pay off earlier
	Your VA funding fee is only .05
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VA cash out refinance

The VA loan program allows cash-out refinances on properties owned more than one year prior to the refinance. They are permitted on owner occupied principal residences only, and are limited to 90% of the appraised value plus the allowable closing costs.

A cash-out refinance is when you refinance your current mortgage for more than you owe in order to pull out the built up equity that has accrued in the home. The amount you can borrower is limited by the value of the property compared to the loan amount

The basic requirements of a cash-out VA refinance loan:

	If the property has been owned less than one year, you are allowed to refinance up to 90% of the original sales price plus the allowable new closing costs or the appraised value plus the allowable closing costs (whichever is lesser)
	If the property was purchased more than one year ago, you can cash-out 90% of the the appraised value plus the allowable closing costs
	Owner occupied property
	2nd mortgages may be paid off with the cash-out refinance (second must be at least 12 months old)
	Loan amounts may not exceed 90% of the appraised value or $203,000 whichever is less.
	You must have sufficient entitlement for the loan (not including any existing entitlement that was used for loans to be paid off by the refinance
	You must have a 1st mortgage on the property
	If the new loan is to refinance an existing mortgage to buy out an ex-spouse's equity, a divorce decree or settlement agreement must be provided to document the equity awarded to the ex-spouse
	Your credit and income must qualify
	A funding fee of 3.00% will be added to the loan amount at closing
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VA interest rate reduction loan (IRRL)

VA cash out refinance

streamline refinancing for VA - FHA home mortgage loans.