VA Refinance in Florida
VA loans are an advantage for potential homebuyers who have served in the military. The reason, its credit requirements are quite relaxed when compared to other loans and are no down payment requirements. Better yet, these benefits apply to not only the first-time home buyers, but also to those homebuyers who are thinking of refinancing their VA loans.
There are various reasons for active military personnel, or veterans, to opt for a VA refinance in Florida. The most common is to reduce monthly payments, leaving them with extra spending money each month.
If you’re in this position, by refinance you may be able to make improvements on your property, or save for a car, or pay off your mortgage quicker. For example, refinancing an existing 30 year VA loan to a shorter 15-year mortgage helps pay off the loan faster while paying less on overall interest.
Other reasons people may want to refinance their VA loans is to help reduce debt. Supposing your home has a large amount of equity, but you have high-interest rate loans or credit card debit, it may be a good idea to refinance and pay those off.
No matter what your reasons refinancing, we will be happy to walk you through the various types refinance options available, including VA Streamline Refinance and VA Refinance Cash-Out loans. Each have their own requirements and funding fees to consider. We’ve got your six here at Moreira Team, let’s work together to find a solution that’s right for you.
Florida County Mortgage Service Areas