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Enhanced VA Mortgage Options
Converting Conventional Loans to VA Loans
Since 1944, VA has guaranteed more than 18 million homes. Loans worth over $911 billion. This year, about 180,000 veterans, active duty service members, and survivors received loans valued at about $36 billion.
Based on the Veterans' Benefits Improvement Act of 2008, Veterans with conventional home loans now have the opportunity to refinance their subprime mortgages into a safer, more affordable, VA guaranteed loan. “Veterans who have an existing subprime or conventional mortgage may now refinance up to 100% of the appraised value of the property. To further support our Veterans, Congress raised VA’s maximum loan amount from $144,000 up to $729,750, depending on the location of the property.
Allowing a Veteran to convert an conventional and/or subprime loan in to a VA 100% refinance is truly a blessing as increasing the loan-to-value ratio and raising the maximum loan amount allows more veterans the opportunity to secure their homes by lowering their interest rate and payments, improving their monthly cash flow thereby saving thousands of dollars in interest and possibly even avoiding foreclosure!
If you are a Veteran or an Active Duty Solider and would like to take advantage of this once in a life time opportunity, do it now as this may just be a small window of opportunity. At Inman Mortgage Group, we value the opportunity of assisting our Soldiers and look forward to providing you the personal and professional service you deserve while offering the most competitive loan programs, interest rates and terms!
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