Cash out Refinance Archive
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Inside the VA Cash Out Refinance
An existing VA mortgage, just like any other mortgage, can be refinanced. A refinance is simply the process where one mortgage replaces another; it’s a “re-finance.” The VA home loan however is eligible for both “streamline” refinance and a standard refinance. A VA streamline refinance, sometimes referred to by the acronym IRRRL, or Interest Rate Reduction Refinance Loan, is a VA program requiring minimal documentation from the borrower as wel... more
Cash-out Refinance Program: Details
Military.com
With the cash-out refinancing program, you can refinance your current loan, whether it's a VA-guaranteed mortgage or not. Usually, the new loan is limited to 90% of the appraised value of the house. There are a few exceptions. General Program Requirements Persons who may qualify for these refinancing loans include: Veterans (including Reserve and National Guard members who were called to active duty) Active duty service members ... more
Cash-out Refinancing: Important Factors
Military.com
Important factors to keep in mind about Cash-out Refinancing include: A cash-out refinancing loan is a VA guaranteed loan which refinances any type of lien or liens against the secured property. The liens to be paid off may be current or delinquent, and from any source. (tax or judgement liens, VA, FHA, or conventional mortgages). An appraisal is required and you must qualify based on income and credit. Loan proceeds beyond th... more
Understanding Home Equity Loans and Cash-out Refinance
Military.com | Jul 07, 2011
A home equity loan can be a great way for servicemembers to take cash out of their homes, whether it’s for college tuition, to finance a renovation, or to pay down credit card debt. The recent financial crisis and collapse of the real estate market brought this type of lending to a halt, but there are signs that it’s picking up again for qualified homeowners. However, it’s not always the right answer to your money needs. Here are some tips tha... more
Cash-out Refinance Tips
Military.com | Jun 28, 2011
Use it for the right reasons. You can use a cash-out refinance loan to consolidate debt, make home improvements, pay for college, or buy property. Just be sure that the priority of what you're using the money for outweighs the closing costs and the possible financial hit you may take if the value of your home goes down. Using your property for investments means managing the risks associated with loaning and investing money, otherwise known as ... more
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Free Museums This Summer
Looking for a way to keep the family busy this summer without spending, all your extra cash? Blue Star Museums, which runs 27 May 2013 until 2 September 2013, provides free museum entry to active duty, National Guard and reserve military families. Whoo hoo! Blue Star Museums is a collaboration between Blue Star Families, [...]
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