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Refinance
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VA Rate Reduction Refinance
Loan Term:
30 / 25 / 20 / 15 years
Max Loan Amount:
203,000
Equity Required:
No equity required
Available for:
Owner-occupied primary residence, second home, 1-4 unit properties
Loan Features:
Fixed interest rate and monthly payments
Your monthly principal and interest payment will never change for the life of the loan. Get the peace of mind that you are protected from any future increases in interest rates.
No income or debt qualification required
With the VA rate reduction refinance, we do not require income verification or debt qualification. This greatly reduces the documentation you are required to provide
No appraisal required and no money out-of-pocket
We can lower your rate and payment with virtually no money out-of-your-pocket and without an appraisal.
Consider choosing this loan if:
You prefer predictable monthly payments and you are concerned that interest rates are going to rise in the future.
You are a veteran or qualified service person with a current VA loan
You want to reduce your interest rate and monthly payment with little hassle and no money out of your pocket.
To Proceed:
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Apply for this loan
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Speak with an experienced
professional about this loan.
Other
VA home loans:
VA Fixed Rate Loan
VA Rate Reduction Refinance
(click on the loan to learn more about it)
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Learn more (key terms and concepts)
VA Rate Reduction Refinance
If your original mortgage on your home is a VA mortgage, you are eligible for a VA rate reduction refinance. With virtually no paperwork, no qualification, no income verification, no appraisal, and no money out of your pocket you can reduce your interest rate and monthly payment. Just like your original VA loan the rate reduction refinance loan is guaranteed by The U.S. Department of Veterans Affairs. The VA loan programs allow veterans to obtain home loans with favorable loan terms, and refinance with ease all with minimal no cash-out-of-pocket. *For VA housing loan purposes, the term "veteran" includes certain members of the Selected Reserve, active duty service personnel and certain categories of spouses.
VA Maximum Loan Amount
Loan Amounts for VA loans can vary in size, but can not go over $203,000. With full entitlement, a veteran may be able to obtain a VA loan up to $203,000, depending on the veteran's income level and the appraised value of the property.
Benefits of the VA Rate Reduction Refinance
VA and Broadview Mortgage Company make refinancing your VA loan quick and easy:
Very little paperwork, you do not have to re-qualify
No Appraisal required.
Reduce your interest rate today. Quickly start saving on your monthly payment.
No Cash-out-of-pocket
Term Options
The Loan Term
is the number of years it will take to pay the loan back in full. Most commonly, mortgage terms range from 10 to 30 years. For our purposes, we will compare a 15 and a 30 year loan:
30 year loan
15 year loan
Extends principal payments
over 30 yrs.
(lowest payment available)
pay more total interest
when you pay over 30 years
Extends principal payments
over 15 yrs.
(higher monthly payment)
Pay less total interest
by paying over 15 years
Build equity faster
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All rights reserved. Revised: October 16, 2000.
