The VA has Authorized a new Opportunity for Veterans to Refinance at lower costs.
The VA is lowering the VA Funding Fee beginning Nov 17, 2011. This will create a huge opportunity for Veterans to Refinance using their VA Loan Benefit for a VA Loan or VA Jumbo Loan at lower costs. The VA Funding Fee for a 90% loan to value refinance is being reduced to 1.40% (down from 2.15% prior for a first time use).
The VA Refinance allows you to consolidate your current non-VA Home Loan or loans (including a Home equity Loan, or Home Equity Line of Credit), into a single VA Loan up to 90% of your homes current value with a VA Funding Fee of just 1.40%.
The VA Allows you to do a Cash Out Refinance up to 90% of your homes value. Use the proceeds to consolidate Debt, Upgrade your home, remodel your kitchen or bathroom, or whatever you can dream up.
Veterans with a 10% or higher VA Related Disability are Exempt from the VA Funding Fee.
Here is another article with more info on the VA Funding Fee Changes.
Call us today at 760-752-4480 to discuss your situation and to see if you can benefit from a VA Refinance.