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VA Loan for Home Equity Refinancing
Whether you need money to consolidate high interest credit card debt, pay for college
tuition, buy a new car, or make home improvements to your home, VALoans.com can find a
way to get you the cash you need through a refinance.
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A VA refinance transaction involves repayment of your current real estate debt from the
proceeds of your new VA mortgage that has the same borrower(s) using the same property.
This is called a "Cash Out" Refinance.
Cash-Out Refinances are used for homes that are used as a principal residence
by its owner. That owner can refinance for up to 90% of the appraised value
(Not available in Texas) plus all closing costs if the property can withstand the
designated loan to value ratio. There is no minimum amount of time that
you must own your home, yet your home must have sufficient equity to
qualify for the loan.
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FREQUENTLY ASKED QUESTION # 7 [ -more VA Loan questions- ]
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Q: I heard the VA has an inventory of foreclosed homes. How can I find out more about this?
A: The Department of Veterans Affairs (VA) acquires properties as a result of foreclosures on VA guaranteed loans. These acquired properties are marketed through a property management services contract with Ocwen Federal Bank FSB, West Palm Beach, Florida.
The properties are listed by local listing agents through local Multi Listing Systems (MLS). A list of properties for sale may also be obtained from Ocwen's website at http://www.ocwen.com/ . If you are interested in buying a VA-acquired property when it is listed for sale by Ocwen Federal Bank FSB, please contact a local real estate broker of your choice to see the property.
Interested Listing Brokers and subcontractors may also access Ocwen Federal Bank's website at http://www.ocwen.com/ for information on selling VA-acquired properties.
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VA Loan Rates
for 11/20/2008
30 year fixed
-----------------
0.000 points
6.500%
6.618% APR
15 year fixed
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0.000 points
6.500%
6.694% APR
Life Insurance for Military Members
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- AIU Online
- Capella University
- DeVry University
- Kaplan University
- Westwood College
- Walden University
- Strayer University
- Virginia College
- Grand Canyon U.
- Grantham Univ.
- Jones Int'l Univ.
- South University
- Ellis College
- CTU Online
- Baker College
FHA Refinancing
Refinance
with
an
FHA loan
FHA lenders
provide an effective way to put your home equity to work.
VALoans.com is a private company specializing in VA financing and is
not a government agency.
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Get Started with a
VA Home Loan
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