I'm not sure how I got on their list, but I periodically get emails about VA Benefits and VA Home Loan Refinancing. I've never served in the military, so I don't qualify for any of the benefits, but I'm really glad that there are special programs like this for our active duty and service veterans. They, and their families, give so much to our country, and I think our country ought to give them everything it can.
With interest rates at an all-time low, one of those benefits is the Streamline Refinance program. It gives service members a fast, simple and hassle-free way to refinance an existing VA loan and take advantage of the lower interest rates. If the current loan rate is above 5% there can be some serious benefits to refinancing. We've been thinking about refinancing our home loan but just haven't gotten around to it, and we really should. It doesn't take much of a drop in interest rates to save quite a bit on monthly payments - or to be able to pay off the loan that much faster. We're thinking we can reduce our loan to a 15-year loan, get an even lower interest rate, and pay the house off even faster.
It's definitely worth checking into. Veterans can request a free Streamline refinance quote, and the rest of us can get more refinancing information by contacting our banks or mortgage holders.
