You have a VA loan and want to refinance. You heard you could refinance without much work involved. That’s exciting news! Now you want to know if you can increase your loan amount. The answer is – it depends.You can’t take cash out of the home’s equity. That’s a VA rule. The VA IRRRL, which stands for Interest Rate Reduction Refinance Loan, is to help you lower your payments. The VA wants to … [Read more...]
Max Loan Amount allowed for the VA Streamline Refinance
The VA Streamline Refinance enables you to refinance your existing VA loan into a loan with a lower interest rate or into a less risky program, such as an ARM to a fixed rate. The best thing about this program is the ability to refinance with very little documentation. The VA started the Interest Rate Reduction Refinance Loan in order to help veterans have even more residual income at the end of … [Read more...]
