Many veterans are confused about the VA streamline loan. They don’t understand that the VA streamline loan allows you to refinance each time rates drop. The VA’s fee is only .5% for doing this, which is much less than was charged when you first got your VA loan. If you receive at least 10% disability from the VA then this fee is waived entirely.
Also, one should be careful when doing a VA Streamline loan so as to make sure that the savings justify the costs. The math is actually pretty simple. You should always ask your VA lender to do this analysis for you. A good rule of thumb is for the closings costs for your VA streamline loan to be paid back within 3 years. A responsible VA lender should provide this information to you the first time that you talk. We recommend trying www.expressvaloan.com to get this kind of service.
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