Facts on Your VA Home Loan

Week of August 25, 2008

A VA-guaranteed loan is a loan made by private lenders (such as banks, savings & loans, or mortgage companies) to eligible veterans. If you want to purchase a home, condominium or manufactured home, the VA can guarantee up to $417,000 of the total loan -- much higher than you can get with most conventional home loans. If you are considering refinancing an existing loan, VA offers you two options. You can either refinance to reduce your current interest rate or you can take equity out (cash-out). The "cash-out" option is limited to $144,000. View the full article on the VA Home Loan to get more details.

Now is a great time to refinance using your VA Home Loan. You can lock in a low interest rate, pay off debt, and lower your monthly payments. Connect with lenders today.