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Veterans Refinance Mortgage Program

Wednesday Apr 6, 2016
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Indigo Mortgage can help you find the best fit for your mortgage...

Suppose a Veteran is interested in refinancing a mortgage that isn’t a VA loan; Indigo Mortgage can finance 100% loan-to-value into a new VA loan. Indigo Mortgage works with lenders that allow 100% of the loan-to-value in addition to VA lenders that allow 100% loan-to-value cash out for any purpose. For example, if a veteran wishes to refinance, and pay off any kind of debt.

When a Veteran wants to refinance a current VA into a new VA loan, whether it’s to get a lower rate or shorten the term, the VA Streamline is also available. The VA Streamline facilitates home refinancing, it does not require an appraisal and there is no income qualification. According to The Mortgage Reports, “The Streamline loan is extremely popular because of its ease of use: once you have already been approved for your initial VA purchase loan, it is relatively simple to lower your interest rate and experience considerable savings”. Right now is a great time for Veterans to consider a refinance or a Streamline, considering rates are still near historically lows. Indigo Mortgage lenders can offer lender credits that help pay Veterans closing costs at the same, or better rate from what other lenders are offering. As for fees involved, the VA never has mortgage insurance, but it does require a funding fee which is allowed to be financed, but this funding fee may be waived if the Veteran receives 10% or more in VA disabilities and benefits.

Indigo Mortgage is a locally owned and operated company, serving homebuyers in Albuquerque, Rio Rancho, Santa Fe and all across New Mexico. For questions about selecting a mortgage lender, contact Indigo Mortgage in Albuquerque at (505) 836-5700. Indigo Mortgage offers five mortgage divisions including Residential, VA Loans, Reverse Mortgages, Construction and Commercial. They are licensed by the Nationwide Mortgage Licensing System (NMLS #188348), and can provide loans anywhere in New Mexico.

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