Refinancing of VA collection – Coronado Times
A VA withdrawal refinance replaces your current mortgage with a new VA loan, ideally with better terms, while still allowing you to withdraw money against your home for a variety of reasons, such as improving the property or paying off. high interest debt. If your existing home loan is not guaranteed by the VA but you are eligible for a VA loan, you can perform this withdrawal refinance to take advantage of the lower VA refinance rates.
For more information on how to take advantage of this program, call Griffin Funding Bayside today!
Should You Perform a VA Withdrawal Refinance?
To determine if a VA cash-out refinance loan is a good option for you, start by evaluating your existing loan. Ask yourself:
- What is the interest rate on this loan? Take a look at what you are paying for your existing loan. Then compare that to current VA refinance rates to see how much you could save.
- Are you paying mortgage insurance on the loan? If your current mortgage is a conventional or FHA loan, you may need to pay for mortgage default insurance. If you refinance a VA loan, you won’t have to pay for this insurance.
- What do you plan to do with the cash? Having access to cash at a low interest rate is one of the main benefits of a VA withdrawal refinance, so consider your goals for these funds. These can include consolidating debt, financing home renovations, or paying tuition fees.
For more information, contact Griffin Funding Bayside today!
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âI am very satisfied with my recent experience with Griffin Funding. From initial application to final closing, the process with our mortgage went smoothly. Colby and Shayda provided white glove service and really answered questions very quickly. They really did a terrific job throughout the process. Thank you very much Colby and Shayda! You guys are great! “
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