Welcome to Home Refinancing Guide
Texas Home Equity Loan Refinancing Article
. For a permanent link to this article, or to bookmark it for further reading, click here.
Home Loan Refinancing Tailor Made For American Veterans
from:The US government offers VA home loan refinancing options for veterans who need refinancing help. Some of the qualifications for veteran home loan refinancing are:
• That you have served in World War II, Korean War, Viet Nam, or the Persian Gulf war.
• You served on active duty for at least 3 months
• You were not dismissed due to dishonorable conduct
• If your service was less than three months but you were discharged because of a disability you may still qualify for a VA loan.
Currently the Veteran Affairs Department is offering three types of home loan refinancing.
The first type of home loan refinancing is for veterans who currently have a VA loan.
VA Streamline Refinance – is designed for veterans who feel they cannot manage the higher interest rates. By choosing an Interest Rate Reduction Loan, or IRRL, they can lower their interest rates. This type of home loan refinancing plan will also save veterans from closing costs without having to take money from their own pockets to do it. Veterans do not have to obtain an appraisal on their home, pay monthly home insurance premiums, or worry about credit ratings and income qualifications. However, a .05 percent fee will apply to offset all reductions in interest.
The second type of home loan refinancing will provide you with much needed cash to pay bills, medical expenses, repairs on your home, or any other reason imaginable. With the Cash out or Debt Consolidation Refinance plan, you can take out as much as 90 percent of the equity accumulated on your home. You do not have to maintain monthly insurance on your home, nor do you have to pay any closing costs directly from your pocket. There is a ceiling of $417,000 on the loan and any loan of more than $250,000 will require a substantial amount of equity on your home. To qualify for your cash out or debt consolidation loan you must meet the income and credit standing requirements.
The third and final type of home loan refinancing is a conventional to VA Refinance plan; in this case you do not currently have a VA loan but want to switch over to one through refinancing. There is a 2.15 percent fee for opening this loan but it can be absorbed into the loan if you do not have the funds to cover it. Again, veterans do not have to worry about a mortgage insurance on your home, closing costs will not be expected to come out of your personal funds, veterans can borrow up to 90 percent of the total value of your home, and you can still qualify for lower interest rates without having a perfect credit rating.
Veterans are encouraged to check out the options in detail provided by a VA mortgage loan specialist.
Texas Home Equity Loan Refinancing News
TexasLending.com to Discuss Changes to FHA Loans on Radio KLIF in Dallas - Houston Chronicle
TexasLending.com to Discuss Changes to FHA Loans on Radio KLIF in Dallas Houston Chronicle Kevin Miller, CEO and president of TexasLending.com, a Texas home loan and mortgage company specializing in Texas refinance loans and Texas home equity loans, and his co-hosts will discuss the upcoming changes to FHA on June 1st which will impact the ... |
TexasLending.com Discusses Lowest Mortgage Rates in History on Radio KLIF in ... - Houston Chronicle
TexasLending.com Discusses Lowest Mortgage Rates in History on Radio KLIF in ... Houston Chronicle Kevin Miller, CEO and president of TexasLending.com, a Texas home loan and mortgage company specializing in Texas refinance loans and Texas home equity loans, and his co-hosts discussed the lowest mortgage rates in history on The TexasLending.com ... |
The Case for Refinancing - Mortgage Daily
The Case for Refinancing Mortgage Daily In general, diminishing rates make it an optimal time to refinance, but there are several things to consider before making a decision. Scott Hein, the endowed Robert C. Brown Chair of Finance for the Texas Tech Rawls College of Business Administration, ... |
PaperErasers Appoints Chris Collum as Regional Sales Director - North - Houston Chronicle
PaperErasers Appoints Chris Collum as Regional Sales Director - North Houston Chronicle In his role previous to that, Chris worked with mortgage providers to identify loan solutions for customers and offer home equity and refinance opportunities to home owners. He consistently met and exceeded monthly performance goals, demonstrating his ... |
TexasLending.com to Discuss Changes to FHA Loans on Radio KLIF in Dallas - DigitalJournal.com (press release)
TexasLending.com to Discuss Changes to FHA Loans on Radio KLIF in Dallas DigitalJournal.com (press release) Kevin Miller, CEO and president of TexasLending.com, a Texas home loan and mortgage company specializing in Texas refinance loans and Texas home equity loans, and his co-hosts will discuss the upcoming changes to FHA on June 1st which will impact the ... TexasLending.com Discusses Lowest Mortgage Rates in History on Radio KLIF in ... |