The home buying process can be confusing, but…
At VAMortgage.com, we take the time to understand your financial needs and objectives when you’re buying a home or looking at using the equity in the home you already have. Find out if a Cash Out Refinance loan, which you can combine with an Energy Efficient Mortgage, or EEM, is right for you. Call VAMortgage.com today at 888-256-5387 and tell us about your goals, and we’ll start working on the best plan to get you where you want to go.
About VA Cash Out Refinance Loans
VAMortgage.com will refinance up to 90% of your home’s appraised value with a VA home refinance loan so you can get more cash out than with other loan programs. When compared to an FHA or conventional loan, a VA mortgage is the only loan program that will provide you with such a high LTV, or “Loan to Value” ratio, which is a ratio of the outstanding debt on a property to the market value of that property. This type of loan requires full documentation. That is, you will need all of the documents that you would need for a standard new home purchase loan, except the contract on a new house because the refinance is for the house you are living in. This type of loan also requires a VA Funding Fee which is usually around 2-3 percent and is charged by the government to defray costs of the VA home loan program. In some cases, the VA Funding Fee may be waived for those on disability. You can view a breakdown of Funding Fees on the Department Veterans Affairs website.
