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Robert Chomentowski's Blog

By Robert Chomentowski | Mortgage Broker
or Lender in San Diego, CA

VA loan cash out refinance to 100% home value

VA offers a very flexible high loan-to-value way to refinance.  If you want to refiance into a VA loan from a conventional or FHA loan you can go up to 100% of the value of your property with the loan.  If you want to get cash out of your house with the VA loan refinance you can go up to 95% of the property's value.  Below are some reasons it might make sense to look into a VA loan refinance:
  • You can consolidate a 1st and 2nd higher rate mortgage into a low 30 year fixed rate VA loan
  • Pay off high interest credit cards and other debts and roll into a low interest 30 year fixed VA loan and also make that debt now tax deductible
  • Refinance from a conventional adjustible rate mortage (ARM) into a low 30 year fixed VA home loan
Read more at:  http://www.socalvaloans.com/va-loan-cash-out-refinance-to-100-property-value/# 

When taking cash out or going from a non VA loan to a VA loan you will have to fully credit qualify with income documentation and home appraisal.  However if you current have a VA home loan and you just want to drop your interest rate, you can do a VA streamline refinance loan where you do not need to supply income documentation and do not need an appraisal.

I hope this helps you understand your VA home loan refinance options.  Don't hesitate to call 858-922-7899 or email me at homeloan8@gmail.com if you have any questions.

Rob Chomentowski

858-922-7899, homeloan8@gmail.com

Sr. Loan Officer (and VA specialist)

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