Refinancing is simply paying off your current mortgage with a new loan featuring different rates and/or terms. This means you may be able to save money on your monthly payments or over the life of the loan.
Some of the Most Common Reasons to Refinance:
- To secure a lower interest rate and potentially reduce the amount of interest you currently pay.
- To shorten the term of a loan at a lower rate that keeps monthly costs at relatively the same level.
- To utilize home equity if money is needed for expenses, home improvements, debt consolidation or cash liquidity.
- To eliminate mortgage insurance.
San Diego Funding and Great Pacific Funding offers 100% VA cash-out refinances and VA Interest Rate Reduction Loans.