Applying for a VA home refinance?

[Punchy Kaby]

We are an active duty military family and we want to try and refinance our house. I have been to the VA website, but the process seems so daunting. Where do I start, as in how do I find a lender or a mortgage agent to help me? We tried to refi in the fall but the agent never came through for us.

[mran]

Do you have a VA loan already? The VA streamline refi is super easy. We chose to go through our existing mortgage company, and got a rate 2% lower than our previous rate, and a payment several hundred dollars less. Maybe if you google VA streamline refinance, you'll get some options.

We found the process pretty simple, they didn't need any paperwork or proof of income, they didn't ask a million questions regarding our assets and liabilities, they simply asked (verbally) how much our income was. We signed a bunch of forms, faxed it off, and we'll be closing next week (2.5-3 weeks from when we started the process) and we'll skip our next payment and recieve the balance of our escrow account as a check in the next couple of weeks.

[Punchy Kaby]

Thank you! I called my bank to see what options we have and it looks like we qualify to refi our first mortgage but not our second with a VA loan.

YOur streamline refinance is for current VA loan holders, it sounds really easy! If rates take a dive again, maybe we can do that, but honestly rates are still very low and if we get 5.25% I will be so happy, our rate is 6.75% and we have been calling every few months to see if we can refinance and the answer was always 'NO' unless we were delinquent on payments. I get sooo frustrated hearing about how the govt loaned $$$ to banks and the citizens who need help are not getting it. RANT

Good luck to you!