VA Loan Refinancing

As a company founded by veterans, we work diligently to get those that served our country into the homes of their dreams. Department of Veterans Affairs home loans, commonly referred to as “VA loans,” are designed to make the home-buying process easy for veterans and military members – especially those who might not otherwise meet some of the standard requirements that lenders set for prospective borrowers. 

VA loans can do more than just help you purchase a home. In fact, with a little help from VA-approved lenders like J.G. Wentworth, veterans, as well as active service men and women, the national guard, reservists, and military spouses can take advantage of exclusive home refinancing options that can help you meet your goals. 

Two Types of VA Loan Refinancing

J.G. Wentworth has two different types of VA loan refinancing available: VA Cash-Out Refinance and VA Streamline Refinance (the latter of the two is also known as “VA Interest Rate Reduction Refinance Loans,” or simply “VA IRRRL Refinancing”). 

Benefits of VA Loan Refinancing 

There are many home lending benefits that military service men and women earn, including the option for those who qualify to refinance up to 100% of their home’s value. You may be able to get a lower rate, lower your monthly payment, or reduce the term of your loan.

It’s also worth noting that since the VA guarantees each loan, financial institutions are able to offer interest rates to veterans that are significantly lower than those that accompany conventional loans. In some instances, that difference can be as high as an entire percent. 

To reap their benefits, veterans are encouraged to consult one of our home loan specialists to determine which of the two types of refinancing options is best-suited to their individual financial goals.  

VA Streamline Refinance Loans
VA Streamline is designed to give qualifying veterans the freedom they need to refinance their VA loan and save money. How? Because a VA IRRRL Refinance will let you take advantage of the market’s current historically low rates, ultimately lowering the interest rate on your home loan. What’s more is that a VA Streamline Refinance can give you a way to transition out of an unpredictable adjustable-rate loan and into a more stable fixed-rate loan. 

VA Cash-Out Refinance Loans
With VA Cash-Out refinance loans, veterans can tap into their homes’ equity and use it achieve other financial goals. And, while VA Cash-Out loans give veteran homeowners immediate access to funds via the equity in their homes, it is important to understand that a VA Cash-Out refinance loan is not a home equity loan. VA Cash-Out refinance loans replace your current mortgage; whereas, home equity loans are second loans that run parallel to your mortgage. 

As a veteran, you should know that VA Cash-Out loans are worth exploring for a number of reasons. For example, qualified veterans can refinance up to 100% of the value of their home and VA Cash-Out loans are available regardless of your current loan type – such as FHA, USDA, and conventional loans. 

Find the Right VA Loan Refinancing Plan with J.G. Wentworth

Both VA Streamline refinance loans and VA Cash-Out refinance loans have many other benefits and are suitable for virtually any military family’s financial needs. To learn more about them, or to inquire about current VA loan rates, contact us today.

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J.G. Wentworth® is a proud sponsor of Homes for Our Troops. Building homes, Rebuilding lives.

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How do I get started?

J.G. Wentworth offers a wide variety of loan programs with low rates and no points and no hidden fees.  To get started, you can call us or let us contact you by completing a short form.  You can also get a rate quote in seconds with no personal information required. We look forward to working with you.