VA Cash-out Refinance Loan

***This just in! Valor Lending Group can now refinance your VA Loan in California and Arizona, for your Primary Residence @ 100% LTV***

The VA Cashout-Out Refinance Loan presents an excellent opportunity for Veterans, Active Duty, and Reserve Service members, to use the equity in their homes! The VA Cash-Out Refinance is a very unique product that allows borrowers to access 100% of their home equity! This opportunity is unheard of and unique primarily because no other mortgage loan product allows this. Most mortgage loan products only allow up to 80% of their home equity and usually, anything over 80% requires private mortgage insurance, adding to your monthly payment by several hundred dollars in most cases.

Let’s get your VA Cash-out Refinance Loan completed now before the rates go up!

As a veteran servicemember, I take pride in helping my brothers and sisters in arms to either become homeowners or continue to grow their real estate footprint. Whether you are Navy, Army, Marines, Air Force, Coast Guard, or now Space Force, we are here to serve you and guide you through the process of our VA Backed Loans!

At Valor Lending Group, we have helped thousands of veterans make use of their home loan guaranty benefit; in addition to other housing-related programs to buy, refinance, build, repair, or retain a home for your own personal use!

One of the biggest struggles for our Veterans is finding the best guidance and direction to make use of their benefits. At Valor Lending, we will work through the trenches and provide the best service possible; so, you don’t have to!

The following basic steps will prepare you to acquire the home of your dreams or expand your real-estate footprint!

Steps to buy a VA Backed Home:

1. Are you eligible?
   • Apply for your Certificate of Eligibility (COE) – Reference
     • By applying for your COE through the VA, you can provide this document to your lender that shows proof you qualify for the benefit
2. Consider your finances
   • It is extremely important that you consider your credit profile, current monthly expenses and overall economic situation to decide if you are ready to commit to buying a home. In addition, this will help you decide the amount you want to spend.
   • We will help you determine what you can qualify for considering your unique circumstances
3. Choose a Lender
   • It is extremely important for you to get the most for your benefit! At Valor Lending Group we have a strong veteran military presence who have served just like you and genuinely want you to get the most for the benefit!
   • We will donate 5% of proceeds to a local Veteran charity of your choice on every VALOR VA Loan!
   • Valor will reimburse your appraisal fee for loans above $300,000

4. Choose a Real Estate Agent
   • If you don’t already know an agent, Valor Lending Group partners with the VERY BEST Real Estate Agents Across the nation. We will connect you with all our resources and make sure you are taken care of!
   • This includes understanding all of the fees that are associated with having a mortgage, including closing costs, VA Funding Fee, taxes and insurance.
5. Search for your Dream Home!
   • Once we’ve completed a specific assessment of your needs and we have established your budget, it’s time for the search!
   • We will work directly with your real estate agent to ensure a smooth and seamless transaction

Steps to Refinance your VA LOAN

Are you looking to lower your interest rate, tap into your equity or lower your monthly payments?

Many of our veterans have often refinanced their current home loan, replacing their current loan with a new one, helping them slash their interest rate, reduce their monthly payments, or cash out their home’s equity. We’ve also helped thousands of Veterans refinance their mortgages to pay their loans exponentially faster or eliminate FHA Mortgage Insurance (MIP) or Private Mortgage Insurance (PMI); significantly reducing their monthly payments. In addition, we have helped veterans switch from adjustable-rate to fixed-rate loans, creating long-term peace of mind.

Important factors to Consider

            The most important question you should ask yourself is, “Why am I refinancing?”. By doing so, you will have a goal in mind, dictating the steps and the rationale for your VALOR VA Refinance.

From our experience, the following subtopics are the biggest reasons why you should consider a VA Refinance:

Reduce your Monthly Payment

• If your goal is to reduce your monthly payment, you can do so by refinancing into a lower interest rate. In addition, you can extend your term from say 15-year to 30-year fixed term. Of course, the drawback is that you pay more interest in the life of the loan, however; your monthly cashflow increases.

Equity

• If you need some cash out, refinancing your current loan will help you acquire some of the hard-earned cash your property is worth. Cash-out refinances require that you refinance into a higher than your current loan amount. Your new lender will cut you a check for the difference. In a vast amount of cases, many of our veterans have been able to obtain a cash out refinance, while also obtaining a lower interest rate.

Pay your Loan Faster

• By reducing your term from a 30-year mortgage into a 15-year term, you can pay your mortgage loan twice as fast. Therefore, you will pay less interest over the life on the loan. However, your monthly loan payment will usually increase.

 Eliminate FHA Mortgage Insurance Premium (MIP) or Conventional Private Mortgage Insurance (PMI)

• Mortgage insurance can significantly increase your monthly payments and eat into your available cashflow. On conventional loans, mortgage insurance can be canceled usually at 78% LTV
• You can refinance from a conventional loan to a VA Loan with absolutely no PMI, thus reducing your monthly payment and possibly your interest rate.
• On the other hand, the Federal Housing Administration mortgage insurance premium (MIP) you pay on FHA loans cannot be eliminated in many cases. The only way get rid of FHA mortgage insurance premiums is to sell the property or refinance the loan when you have enough equity.

Switch from Adjustable (ARM) to a Fixed Rate Loan

• As the name states, adjustable rates go up over time
• Fixed rate loans stay the same for the life of the loan
• Fixed rate term provides financial stability and clarity on future payments

**From Veteran to Veteran, I can help you get the most out of your hard-earned benefit! Give me a call so we can get started.**

Valor VA Loan Highlights

• 100% financing
• Sellers can pay closing costs, up to 2 discount points
• Buyers can add up to $6,000 to their VA loan to have energy efficient improvements installed
• No monthly mortgage insurance
• Less restrictive qualifying terms
• Buyers still eligible even after a short sale
• Jumbo loans available up to $1.5 million
• Buyers can have multiple VA loans under certain circumstances.
• *Valor will reimburse your appraisal fee for loans above $300,000

Other things you should consider:
Find out current VA home loan limits
Read about the VA funding fee and other loan closing costs
Get more advice from the Consumer Financial Protection Bureau (CFPB)
Use CFPB’s mortgage calculator