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VA Cash-Out Refinance Mortgage Guidelines On VA Loans

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This BLOG On VA Cash-Out Refinance Mortgage Guidelines On VA Loans Was PUBLISHED On January 8th, 2019

The economy is way better than anticipated.

  • After President Donald J. Trump took office, the economy has been generating record numbers
  • Unemployment numbers are historical lows
  • Wages are at historical highs
  • Consumer spending is the highest it has been in decades
  • The Dow Jones Industrial Average are at an all time high
  • The Democratic Party is in shambles and are coming up with lies after lies to undermine the Trump Administration
  • The housing market has been booming despite the highest mortgage rates since the 2008 Housing Bubble and Credit Crash
  • There is no sign of any slowdown, recession, or housing correction
  • Both the FHFA and HUD has been increasing conforming and FHA Loan Limits for 3 years in a row due to higher home prices

With homes appreciating like never before, homeowners can get 100% LTV cash out per VA Cash-Out Refinance Mortgage Guidelines. 

Mortgage Rates On VA Cash-Out Refinance Mortgage Loans

In general, there are pricing adjustments called LLPAs on all cash-out refinance loans. VA Loans generally have lower mortgage rates. Often times VA Loans have lower rates than conforming loans. This is due to government guarantee on VA Home Loans.

  • Borrowers can contact us at Gustan Cho Associates at Loan Cabin Inc. for live pricing on VA Cash-Out Refinance Mortgage Loans
  • Mortgage Rates on VA Loans is dependent on credit scores, loan amount, type of property, and other LLPA
  • Homeowners can use proceeds from VA Cash-Out Refinance Mortgage for any purpose they deem fit
  • Could be for debt consolidation, home improvements, paying down credit card debt, vacation, and/or investments

VA Cash Out Refinance Mortgage Guidelines And Requirements

Homeowners need to meet all VA Mortgage Guidelines to qualify for VA Cash-Out Refinance Mortgage Financing:

  • Up to 100% Loan -To-Value
  • Homeowners need to have VA entitlement, which can be restored by paying off the existing VA Loan and getting new higher VA Mortgage
  • Gustan Cho Associates at Loan Cabin Inc. are direct lenders with no overlays on VA Loans
  • There is no minimum credit score requirements on VA Loans
  • There is no maximum debt to income ratio requirements on VA Loans
  • Many lenders do require a minimum credit score of 620 to 640 on VA Loans
  • Reason these lenders require a minimum credit score is not because of VA but because they have their own lender overlays on VA Loans
  • Not all lenders have the same VA Lending Requirements
  • Just because a borrower cannot qualify with VA Lender A does not mean they cannot qualify with VA Lender B
  • Gustan Cho Associates at Loan Cabin Inc. recently closed a VA Loans with 580 credit score and 60% DTI
  • This is because the borrower got an approve/eligible per automated underwriting system

Qualify Today With Direct Lender With No Overlays

Borrowers who are looking for a national five star direct lender with no overlays on VA Loans, please contact us at The Gustan Cho Team at Loan Cabin Inc. at 262-716-8151 or text us for faster response. Or email us at gcho@loancabin.com. We are available 7 days a week, evenings, weekends, and holidays. 

This BLOG On VA Cash-Out Refinance Mortgage Guidelines Was UPDATED On January 8th, 2019

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