Inverness, IL VA Refinance Qualifying
Inverness VA Home Refinance Qualifications

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 VA Mortgage Centers. 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%. VA Mortgage Centers 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. VA Mortgage Centers 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. VA Mortgage Centers 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.

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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 Inverness VA Mortgage Rates.

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    Inverness (/ɪnvərˈnɛs/ (listen); from the Scottish Gaelic: Inbhir Nis [iɲɪɾʲˈniʃ], meaning “Mouth of the River Ness”; Scots: Innerness) is a city in the Scottish Highlands. It is the administrative centre for The Highland Council[2] and is regarded as the capital of the Highlands. Historically it served as the county town of the county of Inverness-shire. Inverness lies near two important battle sites: the 11th-century battle of Blàr nam Fèinne against Norway which took place on the Aird, and the 18th century Battle of Culloden which took place on Culloden Moor.[3] It is the northernmost city in the United Kingdom and lies within the Great Glen (Gleann Mòr) at its northeastern extremity where the River Ness enters the Moray Firth. At the latest, a settlement was established by the 6th century with the first royal charter being granted by Dabíd mac Maíl Choluim (King David I) in the 12th century. The Gaelic king Mac Bethad Mac Findláich (MacBeth) whose 11th-century killing of King Duncan was immortalised in Shakespeare’s largely fictionalised play Macbeth, held a castle within the city where he ruled as Mormaer of Moray and Ross.[4]