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valoannews

Mortgage Investors Corporation: VA Refinance Loans

                      

Buying a home can absolutely be the most exciting and rewarding times in a veteran’s life. The friendly team at Mortgage Investors Corporation knows this, as well as how to assist down the line when a homeowner is looking to refinance their VA loan. However, the process of applying for a loan in preparation of that big purchase can be overwhelming, stressful and frustrating. People often wonder whether they will qualify for a loan, if the process will go smoothly and what costs will be incurred.

For veterans, the U.S. government has created a unique program in effort to simplify the home loan process. To begin with, veterans and service members performing active-duty must obtain a Certificate of Eligibility to qualify for a VA Home Loan. This certificate is accessible through the Veterans of Affairs, or VA. It  is essentially a formal document that certifies VA entitlement. An entitlement is defined as the dollar amount the VA will guarantee on a specific loan.

While not everyone who is qualified to obtain a VA loan actually does or is aware that they can, the process of acquiring a Certificate of Eligibility is very simple. It can be obtained online and lenders that are VA approved can also assist their veteran clients in accessing and filling these forms out electronically.

Now, you may have wondered what type of property can be purchased with a VA loan. Put simply, a VA loan can most often allow for the purchase or building of a single-family home. However, it must be noted that VA loans are known for being flexible. In other words, this type of loan is aimed to assist veterans in enhancing their existing living conditions and/or save additional money every month through a refinance.

One of the purposes of a VA loan is to refinance an existing VA guaranteed or direct loan, with the goal to lower the current interest rate. A refinance can occur in order to take out cash. As previously mentioned, Mortgage Investors, otherwise known as MIC, is a fantastic company that has been in business for 75 years. Their primary mission is to refinance VA loans quickly and efficiently, with the ultimate goal to save their veteran clients money. Some highlights of their program include:

·         No home appraisal required
·         No income verification needed
·         No need to worry about submitting a debt-to-income ratio
·         No pest inspection
·         In-home closing could be in as little as 8 to 10 days

On top of the numerous benefits offered by Mortgage Investors Corporation, your end result will potentially be money saved every single month on your mortgage payment. For further information about how to refinance your VA loan right now, then call MIC today. Their friendly representatives are always eager to talk to you and teach you all about the many benefits of their VA refinance program!

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