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Robert Chomentowski's Blog
By Robert Chomentowski 858-922-7899 |
Mortgage Broker
or Lender in San Diego, CA
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or Lender in San Diego, CA
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VA Cash Out Refinance to 100% in California
Posted under: Home Buying in San Diego,
Financing in San Diego,
Credit Score in San Diego
|
September 6, 2011 6:49 AM |
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VA allows for a cash out refinance to 100% of the properties value. VA cash out is different from a VA streamline. Here are some key points:
- VA cash out refinance is different that VA streamline
- VA cash out requires a full appraisal and full income qualification where VA streamline refinance does not
- VA cash out refinance has a higher VA funding fee
- Funding fee is waived if borrower recieves any VA disability pay
- VA jumbo cash to 100% loan-to value to VA loan limits of $1 million in San Francisco, San Jose, Alameda County, Contra Costa County. And $700,000 VA loan limits in Los Angeles, Orange County and VA loan limit of $546,750 in San Diego.
- You can refinance a jumbo adjustable or high rate conventional loan to VA much easier than conventional because VA offers high loan-to-value loans at 100% where conventional is often 70% max for jumbo loans
- When you refinance from a conventional loan to a VA loan it is considered cash out even if you do not take any cash out
- It can be beneficial to pay off high interest credit card debt with a VA cash out loan and put that into a low interest 30 year fixed VA loan. You also can then write off the mortgage interest from your income taxes.
Click this link for more informaton on VA cash out refinances:
http://www.socalvaloans.com/va-cash-out-loan-refinance-to-100-of-property-value/
If you have any questions about getting approved please call 858-922-7899 or email homeloan8@gmail.com.
http://www.socalvaloans.com/va-cash-out-loan-refinance-to-100-of-property-value/
If you have any questions about getting approved please call 858-922-7899 or email homeloan8@gmail.com.
Best Regards,
Rob Chomentowski
http://www.socalvaloans.com/
858-922-7899, homeloan8@gmail.com
Sr. Loan Officer (and VA specialist)
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