Do you need assistance with a VA Refinance Loan in Austin? If you own a home in Texas and you’re a veteran, you may be eligible for a VA Refinance Loan. Why should you consider home refinancing? If you have years left on your mortgage, it can be to your benefit to refinance your home loan. With a refinance, you could be eligible for a lower interest rate. A lower interest rate can save you thousands of dollars over the length of your loan. Having a couple of hundred dollars or more extra a month can help you reduce other debt or purchase a new car. What could you do with the extra money?
Who qualifies for a VA Refinance Loan in Austin? To qualify for a VA Refinance Loan, you must be a veteran on active duty or be otherwise eligible for a Texas Veterans Home Loan. In addition to being a veteran, you must have been up-to-date on your current home loan payments for the previous 12 months.
What are the benefits of a VA Refinance Loan in Austin? There are several benefits to a VA Refinance Loan. However, before we delve into those benefits, you must understand how the process differs in Texas. While other states or programs will allow you a cash-out option if your loan-to-value rate would allow for cash-out, this option is not available in Texas. However, there are many benefits that will appeal to you. There is no out-of-pocket cost for the loan. Again, the interest rates on a veteran’s loan are very competitive. A veteran’s loan does not have mortgage insurance which would save you additional money if your current loan includes mortgage insurance. Lastly, a Veteran’s Refinance Loan in Austin will loan up to 100% of your current appraisal value. Few lenders will loan up to 100% of your appraisal value.
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In conclusion, if you are a veteran interested in saving additional money on your home mortgage, it is worth it for you to check into a Veteran’s Refinance Loan in Austin.
Securing a VA Refinance Loan does not have to be complicated. If you want expert advice to guide you through the process and help you have the most pleasant refinancing experience, contact Signature Lending Services. Signature Lending Services is an experienced industry leader. To get started with a VA Refinance Loan in Austin, call (214)-681-3540.