Understanding VA Streamline Refinancing

By Jim Thorpe


Thinking about moving? Do you wish you could boost the value of your home without spending too much money on remodeling and refurnishing? There are a few things you can do to up the value of your home while keeping your budget intact. Try any combination of the following strategies!

Your front door is the centerpiece of your whole house. If the hardware is still in pretty decent condition, make sure that the paint is fresh and everything around it looks warm and welcoming. This could be as simple as washing the door frame, placing two potted plants on either side of the door, or buying a new door mat. First impressions are essential, and your door might just be it!

A VA home loan is a home loan offered to qualified veterans of the armed services that was designed and insured by the federal government in order to allow returning veterans easier access and affordability to homeownership. Through the program, returning veterans are able to receive great benefits on home loans that are issued through private lenders but financially backed up by the government.

Scenario 2: You have multiple debts. It can be confusing and frustrating to continuously receive more and more bills from all of the places you owe money to. Once you owe money to more than one place, it can be stressful to manage and organize all of your debts. Thankfully with the Veteran's Administration's refinance loans you can consolidate your loans and arrange for either a longer or shorter period of repayment.

Scenario 3: You can't afford your monthly payment. An easy way to get into even more debt is by paying off the debt you cannot afford with credit cards that you also cannot afford. This is a great way to get into more debt than you can handle, but there is another way.

If you cannot afford your monthly payment on your debt, you can reduce the amount of money that you pay back every month. The repayment period will extend itself in order for you to still be able to pay back the loan in full eventually.

Updating small features like doorknobs, faucets, and mirrors can go a long way. These changes don't have to be very expensive, but they will give each room a fresh, quality look that can boost the value of your home. Remember, value lies in the details.

Replacing kitchen appliances can get very expensive. Replacing counters, flooring, refrigerators, etc., can get very expensive. If you can't afford those kinds of changes, try repainting your cabinets. The transformation can be amazing. Clean, freshly painted cabinets will outshine everything else. They are the most prominent feature in the kitchen and will brighten the image of the kitchen as a whole.

Returning veterans of the armed services deserve the benefits they have earned due to the service to their country that they have rendered. As a part of those benefits, accessibility to the VA home loan program and the most common usage of that program, the VA streamline refinance, is one item that returning veterans must understand before they can take full advantage of their new refinanced mortgage.




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