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Thousands of people are using their VA Loan benefit every single month. Let us help you refinance a MN, WI, or SD home with no out-of-pocket costs to today's low interest rates.
Two VA refinance options are available, the VA streamline refinance, also known as an IRRRL loan, and a cash out refinance. Unique in the mortgage world is that a VA loan allows you to cash out, that is, take additional cash above what you may currently owe on your home - all the way up to 100% of the homes appraised value.
You can you that additional cash for whatever
reason you like. Add improvements to the home, pay off credit card debt,
etc. This is a huge beneifit. Conventional loans only let you cash out to
80% of the appraised value. FHA loans allow up to 85%, but have
expensive mortgage insurance.
VA refinance loans have NO PMI = Lower Monthly Payments
VA Loans offers a HUGE savings benefit. They do NOT require monthly PMI, or
private mortgage insurance. PMI is an added monthly expense required for
conventional loans and FHA loans where the borrower finances more than 80% of
the home's value.
Interest rates are also typically lower with a VA Loan, than a conventional loan. A lower rate combined with monthly PMI savings can substantially lower your monthly payment.
VA loans allow you to take cash out for any reason up to 100% of your homes value
VA home loans have limitations on which closing costs may be assessed to the veteran.
VA home loans have no prepaid without penalty.
Maximum 100% financing up to $453,100 in MN, SD, WI. Small equity position needed for VA loans over $453,100
VA home loans may have forbearance extended to worthy VA homeowners experiencing temporary financial difficulty
VA performs personal loan servicing and offers financial counseling to help veterans avoid losing their homes during temporary financial difficulties
VA interest rates are generally lower than conventional loan interest rates.
VA home loans do not require mortgage insurance ever - this is a HUGE savings.
Mortgages Unlimited, Inc - St Paul Office
33 Wentworth Ave E, Suite 290
Saint Paul, MN 55118
Office (651) 552-3681
Fax (651) 994-6425
Mortgages Unlimited, Inc. Nationwide Mortgage Licensing System and Registry (NMLS) # 225504 Saint Paul Branch - NMLS # 387944. Joe Metzler, Licensed Mortgage Loan Originator NMLS # 274132. Minnesota Lic# MN-MLO-274132. Wisconsin Lic # 11418. South Dakota Lic # MLO.03095
Equal Housing Lender © 2009 - 2019 - Joe Metzler for Mortgages Unlimited, Inc