VA Refinance Qualifying
Qualifying for a VA Refinance
NO LATE PAYMENTS IN LAST 12 MONTHS
You must have made the last twelve of your mortgage payments on time to be eligible for a cash-out refinance with Smart Mortgage. This is important because it shows that you are responsible and are able to make your loan payments on time.
DEBT-TO-INCOME RATIOS
Your debt-to-income ratio is the amount of your monthly gross income that goes toward debt. The VA’s acceptable debt-to-income ratio is 41%. Smart Mortgage can help you figure out what your current debt-to-income ratio is. It’s a complicated process because there are exceptions and variables that can affect your final ratio. If your debt-to-income ratio is higher than the VA’s threshold, you can lower it by paying off debt before applying for your refinance loan. Smart Mortgage can discuss your options with you so that you will be eligible for a refinance as soon as possible.
CREDIT CHECK
It’s important for the lender to check your credit again with a cash-out refinance, since it’s an entirely new loan. Smart Mortgage checks your credit to make sure that you are still financially stable.
If you’re thinking of applying for a cash-out refinance in the near future, it’s a wise idea to pull your credit reports and check for any inaccuracies. If you find any, those inaccuracies should be disputed and taken care of before you start the refinance process.
Get a Lower VA Mortgage By Calling 888-208-9797 today. Start your VA Loan Now.
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If you’re looking for a personal mortgage experience you’ve come to the right place. Get the best of both worlds with a designated VA professional plus technology. What’s even better are the lower rates, no upfront fees and fast closings. Rates so low the nations largest VA lenders panic when consumers find out about our Smart VA Mortgage Rates.
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I received two quotes from popular VA lenders. My wife wanted work with a local company so we reached out to Smart Mortgage Centers based on their reviews. When we received our quote we almost couldn't believe the difference. After getting it in writing we went with Smart Mortgage and the rest is history. Online application was simple and the communication with Jon and his team was flawless. Thank you Again!
I'm Paying Less Now Than Rent!
These guys are the best. We now live in our dream home thanks to Brian and the guys at Smart Mortgage Centers. I'm paying less now than I was to rent! We couldn't possibly be happier with the service. Brian worked tirelessly on our case until the job got done.
Excellent From Start To Finish!
We had Brian T and he was excellent from start to finish. Even with having to change the closing 3 times because of the sellers he kept us informed of everything that was going on so I wouldn’t have any surprises. I would recommend them to anyone. We had an excellent time especially since we live in Jacksonville and he in another part of Florida.
The Best Experience I Have Ever Had!!!
The best experience I have ever had!!! We were clear to close in less than 20 days. Brian gave us a better rate than everyone else we had talked too and made the process feel effortless! Brain T. thank you for all your help and we are telling everyone we know to come talk you at Smart Mortgage Centers!
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