Question:

How to get information on a VA home loan refinance and other VA benefits?

Answer:

Information and counseling on VA home loan refinance and purchase is widely available on the internet. Many VA approved lenders will explain the benefits and features of VA purchase and refinance loans on their websites, as well as upon request.

However, on the official website of the US Department of Veteran Affairs there is a lot of information available on VA home loans and refinance, eligibility issues, home eligibility, VA homes for sale, etc. Videos are also provided.

Why Doing a VA Home Loan Refinance or Purchase

A VA home loan purchase or refinance have great advantages to eligible participants.

  • You can get the best possible rate without any consideration of your credit;
  • Val mortgage loans are guaranteed by the government;
  • Additional benefits are offered to the disabled;
  • There is no mortgage insurance to pay;
  • Zero down payment is possible;
  • The funding fee of 0 to 3.3% can be rolled into the loan;
  • Most disabled veterans are eligible for a funding fee waiver.

Also, adjustable rate VA mortgages are available for a refinance, or purchase. The 2008 VA loan limit remains at the 2007 limit - $417,000 for all states except for Guam, Hawaii, Alaska and the Virgin islands where VA loans are available at 50% higher than the regular VA home loan limit.

Mortgage rates hit their lowest since 1955. Ask the home loan experts we recommend Quicken Loans how to take advantage of them.
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