4 Reasons to Use a VA Streamline Refinance Loan

A VA streamline refinance loan can provide you with a number of benefits as a borrower. Here are a few reasons that you should consider using a VA streamline refinance loan.

1. No Credit Check

One of the biggest advantages of using a VA streamline refinance loan is that you will not have to have a credit check. Since you are an existing VA customer, they know that your credit was sufficient enough to get a mortgage initially. This means that they can eliminate this step and get you the money that you need.

2. No Income Verification

In addition to not checking your credit, the lender is also going to avoid verifying your income. They will verify employment and will not require income documentation.

3. Speed

Another advantage of using this type of loan program is that you will be able to get everything processed quickly. Since you do not have to have your income or credit verified, they will be able to complete the process rapidly.

4. Skip Payments

Whenever you refinance, you usually skip at least one mortgage payment. This can allow you to save some money while the loan is being processed.