What Is A VA 100% LTV Loan?
A Loan-to-Value ratio or LTV is the amount divided by the home value. If the home is worth 200,000 and the loan is 200,000, then the LTV is 100%. So a 100 LTV Refinance is when that ratio is equal to 100%.
Does The VA Allow Cash-Out Refinancing?
The VA allows for Cash-Out refinancing at 100% LTV, but many VA lenders do not. Most VA lenders cap the maximum LTV at 90 percent of the value of the home. That’s not the case with HomePromise.
Does Cash-Out Refinancing Lower My Rate?
The VA gives qualified Veterans an opportunity to refinance their conventional FHA, USDA, or VA Home Loan into a new VA loan up to 100% of the value of the home. If approved, an eligible Veteran or active-duty service member may even get a lower rate while drawing cash from the home’s equity.
The VA Cash-Out refinance 100% LTV replaces the existing mortgage and can be used to pay off high-interest credit cards or other high interest debt. As a result, you may be able to lower the interest rates you pay for your debt. For more information call 800-720-0250 to speak with a VA Loan & Refinancing Expert with HomePromise.
I just want to thank you very much for your work to help us refinance our loans. I know you had to do so much work for us and we really appreciate it. If I know anyone who wants to buy a home or refinance I will do my best to refer you to them. Again, thank you very much.
This company out did themselves in my expectations. They were not pushy; they waited on me and kept contact with me even when I wasn’t sure if I was going to be able to refinance. I had a wonderful experience and highly recommend them for your next mortgage needs!
My mother recently had a refinance with HomePromise. The process was easy for her (and I) to follow. The loan representative was very helpful and responsive for the entire process and explained everything. I would definitely recommend this company.
I am a Veteran and they helped me understand the best options with my VA loan. They were great all through the process. I will definitely be telling others about Home Promise.