Wilmette, IL VA Refinance Qualifying
Wilmette 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.

Get a Lower VA Mortgage Rate By Calling 888-208-9797 today.  Start your VA Loan Now.

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Get the Best VA Mortgage Rate

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 Wilmette VA Mortgage Rates.

Connect with your personal Wilmette, IL VA Loan Expert by calling 888-208-9797.

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    Wilmette is a village in New Trier Township, Cook County, Illinois, United States. Bordering Lake Michigan, it is located 14 miles (23 km) north of Chicago’s downtown district (4 mi or 6 km from Chicago’s northern border) and had a population at the 2010 census of 27,087.[4] In 2020, Wilmette was ranked by Niche.com as the best place to raise a family in Cook County based on a variety of factors including public schools grade, percentage of residents with a bachelors degree or higher, crime & safety grade, family amenities, walkability grade, percentage of households with children, and access to parks and other recreational activities.[5]
    Wilmette is also home to Romona Elementary School, a recent recipient of the National Blue Ribbon award bestowed by the U.S. Department of Education.[6]

    Wilmette is located on the western shore of Lake Michigan and is a near northern suburb of Chicago, immediately North of Evanston at 42°4′38″N 87°43′25″W / 42.07722°N 87.72361°W / 42.07722; -87.72361 (42.077178, -87.723736).[7] The North Shore Channel drainage canal empties into Lake Michigan at Wilmette Harbor.