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Take Advantage of your VA Benefits!
With a VA Home Loans for active or military veterans in Minnesota and Wisconsin
If you have an existing VA home loan, joint the thousands of people who are refinancing their existing VA Loan to today's low interest rates. We can help you save money for homes in MN, WI, or SD.
The VA Streamline Refinance, also known officially as the VA Interest rate Reduction refinance Loan ( IRRRL), is streamlined in the fact that most people DO NOT need an appraisal, and the documents required to refinance are generally reduced. Less paperwork, no appraisal?? How cool is that?
A VA streamline refinance, just like when you bought your home with a VA loan, does have a funding fee. The fee for a VA streamline refinance is just .50% of the loan amount - significantly lower than the fee when you bought the home. Just like purchasing with a VA loan, if you have at least a 10% VA disability, the VA funding fee is waived.
A VA streamline refinance is a new loan, and not a modification of your existing loan. Therefore the lender is still going to want to see OK or better credit, and an on time payment history of at least 12 months. Generally we verify you have a job, but we don't verify income.
All mortgage loans have closing costs. The VA refinance is a bit cheaper, because we don't need things like an appraisal. You can pay the closing costs out of pocket, but as the loan allows you to roll the costs into the loan, most people are able to refinance with little to no out-of-pock costs. BEWARE of anyone claiming "no closing costs". They are just rolling them into the loan like everyone else, but trying to fool you. You are too smart for that... Pick someone else!
VA home generally have lower rates.
VA home loans have limitations on which closing costs may be assessed to the veteran.
VA home loans have no prepaid without penalty.
VA home loans may have forbearance extended to worthy VA homeowners experiencing temporary financial difficulty
VA home loans do not require mortgage insurance - this is a HUGE savings.
VA STREAMLINE REFINANCE IN MN, WI, and SD
Ready to start saving? Cambria Mortgage is a MN based direct lender. We will originate, underwrite, fund, and close your VA loan. We live and work in this area, and that sure beats some bit out-state VA lender on the internet.
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Cambria Mortgage - St Paul Office
33 Wentworth Ave E, Suite 290
Saint Paul, MN 55118
Office (651) 552-3681
Fax (651) 994-6425
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33 Wentworth Ave E - St Paul, MN 55118 - NMLS 274132
Equal Housing Lender (C) 1998 - 2018 - Joe Metzler for Cambria Mortgage
Cambria Mortgage. Nationwide Mortgage Licensing System and Registry (NMLS) # 322798 . Joe Metzler, Licensed Mortgage Loan Originator NMLS # 274132. Minnesota Lic #: MN-MLO-274132. Wisconsin Lic #: 11418. South Dakota Lic # MLO.03095