A VA streamline loan is a VA loan that is available to veterans who are currently in a VA loan. It allows the veteran to lower his/her interest rate with about a third of the paperwork and hassle. It often times allows the veteran to receive cash back by receiving a refund on their escrow balance and deferring up to 2 monthly mortgage payments. This can add up to thousands of dollars in some instances.

Perhaps the biggest benefit of the VA Streamline program in today’s market is that it doesn’t require an appraisal (in most instances). This has given veterans a huge advantage over the general public in taking advantage of the low Interest rate environment that we find ourselves in. This is because most conventional borrowers (non-veterans) are required to first obtain an appraisal on their home which shows that they have adequate equity (usually 20%) in their home. We all know what a subjective thing that real estate values can be in today’s real estate market due to all the foreclosures that have been hitting the market. This has allowed VA Streamline borrowers to get their interest rates down regardless of the state of the real estate market. What a huge advantage!!

Rates are at historic lows and it is a phenomenal time to be taking advantage of VA Streamline program. If you would like to learn more about the VA Streamline program, you may contact a VA loan specialist at: 888-807-2871 or on the web at: www.expressvaloan.com.