Zion, IL VA Refinance Qualifying
Zion 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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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 Zion VA Mortgage Rates.

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    Zion (Hebrew: צִיּוֹן / 𐤑𐤉𐤅𐤍‎ Ṣîyōn, LXX Σιών, also variously transliterated Sion,[2] Tzion, Tsion, Tsiyyon[3]) is a placename in the Hebrew Bible used as a synonym for Jerusalem[4][5] as well as for the Land of Israel as a whole (see Names of Jerusalem).

    The name is found in 2 Samuel (5:7), one of the books of the Hebrew Bible dated to before or close to the mid-6th century BCE. It originally referred to a specific hill in Jerusalem (Mount Zion), located to the south of Mount Moriah (the Temple Mount). According to the narrative of 2 Samuel 5, Mount Zion held the Jebusite fortress of the same name that was conquered by David and was renamed the City of David.
    That specific hill (“mount”) is one of the many squat hills that form Jerusalem, which also includes Mount Moriah (the Temple Mount), the Mount of Olives, etc. Over many centuries, until as recently as the Ottoman era, the city walls of Jerusalem were rebuilt many times in new locations, so that the particular hill known as Mount Zion is no longer inside the city wall, but its location is now just outside the portion of the Old City wall forming the southern boundary of the Jewish Quarter of the current Old City. Most of the original City of David itself is thus also outside the current city wall.